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Category: FinTech

Demystifying Regtech in Fintech

Posted on by Imarticus Learning

 

Often asked questions today are “What is RegTech and why is it so important”? Let’s explore. 


Coined from two separate words Regulatory and Technology, RegTech has evolved to be the latest buzzword in the Fintech sector. With financial transactions being subjected to fraud and cyber crimes, transparency in financial transactions, KYC norms, full-disclosure and such regulations have become mandatory. The huge plus has been solutions that are integrate-able, cost-effective, secure, reduce risks, meet RegTech standards and work efficiently on cloud-based peer-to-peer networks.

Fintech companies have and can produce such solutions, which is why they are being openly encouraged and incentivised. The blockchain-technology adoption added business value to most financial sector fintech startups and solutions while giving cryptocurrencies huge success by making financial transactions completely recorded, secure and transparent. Cryptocurrencies though steady have no takers among the investors at the moment. The technology though was quickly adapted and adopted to build various applications for the fintech, banking, insurance, health, construction and other industrial sectors.

With blockchain technology-based apps other payment platforms using mobile transactions, digital payments, online banking and such are thriving investment opportunities. Most angel investors are looking at partnering opportunities with those going into disrupt. The SME sector and back-end operational efficiency solutions are also a thrust area that is set to grow and is incentivised as it creates employment, industrial and economic growth. These contribute to the popularity and growth of the Fintech RegTech startups. Most importantly, regulation and compliance measures saw the emergence of regulatory and technology-based blockchain solutions which rapidly evolved as market-leader in a mere 3 years. And for good reasons too!

Investments in RegTech in 2018  

RegTech allows proactive-management which leads to better compliance and savings in penalties and fees. Automation also allows long-term returns in terms of cost-savings, increased efficiency and productivity and compliance control management. Thus financial institutions can concentrate on core businesses and service customers better.

Financial institutions have to and continue investing in RegTech solutions with governing policies and watchdogs making compliance and regulations stricter by the day. To keep costs of risk mitigation and follow protocols of compliance at the least possible costs, banks look to the RegTech sector for updated and effective solutions.

Northwest Journal of International Law and Business claims 200 billion USD in penal fees was levied for non-compliance. Misinterpretation and human-errors are another source of concern and attract hefty penalties for ever-evolving and changing compliance norms.

Financial solutions and firms are placing hands-to-the-deck to keep abreast of changes in compliance and regulatory measures. Citi Bank recently added 30,000 dedicated staff for compliance management. Obviously, the RegTech sector has immense potential at the moment and is set to be around 120 billion USD as per a report from Reuters.

Global trends in RegTech – France and Switzerland

According to a Reuters report, the current value is about 2,321.5 million USD and expected to reach 7,207.6 million USD in 2023. The segment solutions include reporting, compliance management, risk and identity-management.

The RegTech boom in France and Switzerland which are both from the European bloc results from mandates and directives in GDPR regulations, risk compliance, data-protection and transparency in financial transactions. Many financial institutions in a bid to defer infrastructure and hardware costs use cloud-deployment for SaaS with a fixed subscription and per-usage basis. Most vendors of RegTech solutions have also tied-up with GRC vendors for enhanced client and market-reach. This is a global trend across developing countries too.

To conclude, there appears to be no stopping the RegTech sector.

What is Job Description to Work in Fintech and What Are The Skills Required?

Posted on by Imarticus Learning

One of the latest and fast-growing sectors is the fintech industry. Fintech means a combination of finance and technology. Ideally, this combination has set high standards in the field of employment as the need for upscale finance, and technological intelligence is undeniably high.

There is a place for people with different expertise in the field of finance and technology together, and the job description is as under: 

The core positions in fintech require people who have expertise in technology. Someone who is well-versed with Artificial Programming Interface has a better future in fintech. Developers of operating systems like Android and IOS have the opportunity to be app developers for fintech companies.

People who have enhanced their skills with User Interface also have jobs in fintech where they may need to develop a user-friendly and intuitive online banking experience for users. Such tasks are highly challenging and competitive in the fintech sector.

Customer support is also a need for the fintech sector, which requires people with good language proficiency and patience to handle thousands of customers per day. Online customer service can be made more compromisingly by joining as customer support to manage the chatbots online.

Product managers who can efficiently understand the need of the customers are essential skills for Fintech firms to stay disruptive.

Certain skills required in the Fintech sector
Fintech firms recruit people with skills such as Java. Without the knowledge of Java developers in investment banking will have no meaning. Java is the most preferred skill, J2EE is also needed for various tasks in a bank.

If you are interested in working in banking technology then learning Java is mandatory. Joining various Fintech Certification Courses will also help you enhance your skills and knowledge of the latest technology and financial disciplines.

One of the topmost desired skills is to be a business analyst. Banks are looking to implement new projects with new dimensions and strategies to reach out to more customers. Business analysts in the fintech sector can earn well if they have the future vision and understanding of tech projects. Business analysts should have different soft skills like the ability to see the disruption behind the potential investment of the firm and so on.

Being equipped with the knowledge of C sharp is quintessential for partnering with the developers in banking technology. Python is the latest skill that has made its mark in fintech. Python has become the mainstream for various projects in the financial sector of fintech.

Good communication is vital to stay in the fintech firms as you may have to show your communication skills both internally and externally. Having the skills of problem-solving during crises and the ability to build team spirits are characterized as the essential skills for every fintech job.

Conclusion

The Fintech sector has different career options and opportunities to explore. The flourishing fintech sector does not end opportunities for people in the banking sector. The members of fintech firms are usually agile and work as a cross-functional team instead of a traditional hierarchy of the business.

What is Blockchain Training?

Posted on by Imarticus Learning

The technological advancements contributed by blockchains has led from the front to ensure swift changes in coding, cryptography and programming languages. Today’s industries need to keep up with the rapid strides, trends, and pace of technology.

This drives the demand for fast-adapting global business employees, experts, and professionals who need to equip themselves with state-of-art advanced courses and training to be more marketable, competitive and eligible.

The blockchain technology over the last decade has left a massive impact on all secure and transparent financial transactions and secure record-keeping including healthcare, public sector, real estate, and financial services to name just a few.

What is blockchain technology? 

A blockchain comprises of a chained block listing connected to each other through cryptography codes. The demand for blockchain experts is already at a high and is growing drastically by the moment as this technology has the potential and is widely believed to be reliable, secure and unbiased. Thus many blockchain training institutes and academies have mushroomed over the last few years.

The incessantly increasing demand for blockchain professionals guarantees great salary packages and quick career advancement for blockchain developers in the IT industry.

Cryptocurrency based blockchain technology evolving from the BitCoin technology uses hashtags and math problems encoded in every block of the blockchain. By embedding a part of the previous block’s code in every new block every transaction and block addition is verified across several interconnected nodes of PC’s which form a vigilant distributed network.

Every node verifies the transaction by providing the right solution to the query raised and hence such transactions are irrefutable, immutable and absolutely secure with time-tags and encryption too.

Blockchains eliminate the intervention of mediators in the transaction like large institutions, Governments, etc thereby, making it an open-source network which is easy to access.

The Bitcoin is the earliest form of digital cryptocurrency or virtual cash that is most widely accepted and traded in with a uniform global value unlike the various paper and fiat currencies which depend on different prices as per different geographic locations.

The Ethereum is the second most well-known cryptocurrency using blockchain technology which allows its users to build their own wallets and smart contracts by making use of its network to avoid complex coding processes needed to enable the building of smart contracts.

Features of Blockchains:

Bitcoin currency has been traded in Forex markets in many countries for over a decade. Just as the paper currency system is managed by the reserve and federal banks in the country, the blockchain manages cryptocurrencies. The explorer of blockchains records and maintains all Bitcoin transactions in a digital ledger of transactions connected in the chain to a secure sequence of hashtags.

Here are the important protocol and rules of the Bitcoin method, network, and blockchain.

  • Data is permanently stored: The software-based cryptocurrency is stored digitally and recorded making it difficult to dispute transactions in the wallet or account. Thus no unaccounted transactions and currency are present in the system.
  • Code rules all transactions: The blockchain is based and governed by its coding. Once recorded it cannot be changed or tampered with. Also, the digital records are available to the public and thus ensure a safe, immutable, recorded transaction.
  • No governmental, legal or regulatory involvement exists: The Bitcoin is devoid of third-party interference. It is a decentralized platform to ensure secure transactions digitally. When using the Bitcoin platform, currency or transactions ensure you get legal guidance.
  • The digital wallet has enhanced security and can be password protected: The wallet can store your keys and currencies securely and with encryption on hard drives, computer etc. It is best stored on a separate device to continue access even when your computer fails.
  • Access is only through your private key: The encrypted key is the only way to log in. Keep a backup of it safe and never lose it. If you do lose the key nothing helps as the blockchain recognizes only the key. You could lose your currency if you lose your key. Beware!
  • Use a reliable currency exchange platform: This protocol is essential to prevent hackers from gaining control to your information, currency and account. Though the system is encrypted and secure transactions are ensured, be careful to use a reliable platform for currency exchange, buying or selling Bitcoins.
  • Double check receiver address: Ensure receiver address as in a digital and decentralized system once you transfer to a wrong party there can be no charge-backs or support interventions.

Skills that can be acquired:

Blockchain training covers various topics embracing the core concepts in blockchain technology. The top-performing cryptocurrencies like Ethereum, Bitcoin and multichain scenarios are envisaged and explained.

The core meaning of blockchain and its associated concepts are well-explained in blockchain training. Proper blockchain training provides an in-depth grasp about what the Bitcoin is about and how it works while connecting its users. It also enlightens one about the knowledge of how Etehreum’s platform is used for building smart contracts easily. Real-world blockchain scenarios are used to throw light on the concepts and future applications based on such concepts.

A comprehensive understanding of blockchain and the technologies involved therein can only be achieved by doing a course from bankable institutes like Imarticus. Undertaking a Blockchain Training program has become quintessential for freshers, software professionals like team leads, project managers, technology architects, and business analysts.

Considering the opportunities that await a person well-versed in blockchain technology, it is always a good choice to take up such courses at a reputed institute like Imarticus Learning and add the feather of blockchain certification to your career cap.

Conclusion:
The growth of Blockchain training online and its impact on various industries has led to an estimated 18% of world GDP through blockchain technologies. Once you master the fundamentals you will learn all about the hyper ledger, blockchain multi-chains, coding, cryptography, and smart contracts.

Easy understanding of the mechanism behind the top performing cryptocurrencies like Bitcoin and Ethreum is also interpreted well in the blockchain training. As part of futuristic and new-age tech courses, the Blockchain technology training at Imarticus Learning also called the Fintech pro degree and blockchain training is sure to be profitable and a good career choice.

What Are Blockchain Technologies?

Posted on by Imarticus Learning

What Are Blockchain Technologies?

The new hype in the field of technologies is surely blockchain technology. Blockchain was a much more complex process and concept to understand when it was first introduced by Satoshi Nakamoto, the developer of Bitcoin. Bitcoin is a cryptocurrency which is used in the form of electronic cash across the globe. What binds the Bitcoin users and the value of the cryptocurrency is the blockchain.
Understanding blockchain better
A blockchain stores data in an undistributed ledger format where every block is connected through a blockchain. Bitcoin was launched in 2008 to give a competition to the fiat currencies like Euros, Dollars, and Yen which have different values across different locations of the world. As the blocks of information of the Bitcoin network are stored across the computers, there is no possibility of its breakdown due to a failure at a single point.
To date Bitcoin’s blockchain has not come across a serious disruption in its blockchain network. Blockchain technology is gaining more limelight as it is considered an unbiased technology wherein there is no control with any individual or a certain group of people. Blockchains are an open-source ecosystem which is shaping the face of the digital era. When such is the importance of blockchain technologies in the modern era, it is ideal for people to enhance their skills with Fintech courses.
Initially, though blockchain technology was introduced for the upbringing of Bitcoin crypto blockchain developers have found its potential use in various fields including health care, insurance, banking, infrastructure and more. Bitcoin which uses blockchain is so popular that it is often used as a synonym for cryptocurrencies. No wonder that the total value of Bitcoin has crossed USD 100 million to date. A bitcoin reconciles its transactions or blocks every ten minutes. Different nodes together form a blockchain.
Merits of blockchain technologies

  • Since blockchain is deemed to be incorruptible, it is considered a revolutionary idea for upbringing new digital formats.
  • The database in blockchain technology is not stored in a single computer. Instead, it is spread across all the computers that use the blockchain. Thereby, it eliminates the central authorization of a network and eliminates or decreases the possibility of getting corrupted.
  • The blockchain is in a state of consensus which automatically checks it own network every few minutes.
  •  A computer that is part of a blockchain automatically gets connected to other nodes and downloads the entire blockchain and starts validating and processing the blocks along with other systems.
  • Blockchain technology has also gained prominence as they are decentralized networks which means to say that Every single node acts as an administrator and participates in the process.

Future significance
The blockchain is widely accepted and used for International remittances which finally eliminates the centralized authority of banks and other financial institutions.  Blockchain has become an undeniable force which may craft the future phase of computing so much that the world GDP is expected to witness a considerable value due to blockchain-oriented industries.

Should You pursue a career in a hedge fund or a fintech startup?

Posted on by Imarticus Learning

 

To answer this question, we must remember that the operational frames of banks, hedge funds, software companies, and financial consultancies differ greatly and impact the roles when working within areas like Big Data research, financial services, and sellable products. This affects the type of work done, the people they recruit and promote, and of course the opportunities they generate. Let us understand these choices a little better to decide based on a logical thought process. 

Hedge Funds:
 Hedge funds are research-based institutions. The aim here is to understand defined financial markets for a specific purpose at all levels micro, macro, micro, and nano. To provide the best solutions and financial strategy and make that into a sellable product for investors is the ultimate aim.

You will need to be good at figures, statistical analysis, mathematics and have great inquisitiveness, perception, and attention to details and figures if you want to excel in this field. The hedge funds pace is set by financial markets they research and operate in. Hence expect seasonality and waves of workflow intensity in this job role.

Banking sector:
 The banks service investors and institutions including the hedge funds. The focus areas are sales oriented and aggressively client dependent on customer services, rates of interest and user experiences.

Communicative skills, polish, suavity, thoroughness, and great presentation skills are crucial in the job roles in banks. Investment banking would provide a better concept and maturity in business-values if you have done market studies and research for a hedge fund. This role is a fusion of customer first and a thorough knowledge of financial analytics.

Fintech sector:
 A fintech startup cannot be compared to banks and hedge funds. The software industry is the link between fintech startups, hedge funds or banks. Their environments are incomparable and goals different. The fintech startup aims for traversing the startup phase, become a stellar successful software company and then think of its IPO or selling company shares.

Software firms:
 A software company, on the other hand, would be into developing marketable products and services and can connect to the financial sector, banks, hedge funds and fintech companies with its products. They should be classified as software engineering enterprises which require a mechanical and precise skill set.

The end products differ in each of the above. It would be best to make a career based on your aptitude for the end products in these sectors rather than look at the entire gamut of sectors as a viable career option. Here is some information that can enable a decision.

Industry payouts:
 The highest compensation can be expected from hedge funds. Banks offer reliability and advancement of career paths through their payouts are relatively fixed and lesser than in hedge funds. Fintech startups are very selective and offer high payouts for skilled persons. One must be highly trained and lucky to land jobs or make a paying career in Fintech startups.

There are very few large fintech companies offering huge payouts. Angel investors track many of the fintech startups and landing those super high payouts means working full time and more in the race to out-perform peers, make wise choices of investments, and having a great amount of luck.

What you need to do to decide your career path is to
 •Have the far-sight to go beyond the financial aspects.
•Study blockchain technology within the industries environments
•Learn more about specific teams and their functioning.
•Do fintech courses to equip yourself 

How did Fintech do in 2018 in India?

Posted on by Imarticus Learning

Just like the previous two years have been, 2018 was a big year for the Fintech industry in India. This sector has grown with a Compound Annual Growth Rate (CAGR) of 22%, which is about three times the GDP growth rate of the country, in the last year alone. The Fintech sector is one of the most rapidly changing sectors in the country today.

While it was somewhat dormant just a few years ago, the sudden drought in cash brought on by demonetization in November 2016 gave this industry a huge boost with the number of online transactions increasing exponentially by the day. As such, Fintech has been at the forefront of rapid economic growth in the last couple of years. Let us look at a few of the major developments that happened in the space in 2018:

  • The banning of Cryptocurrencies

The Reserve Bank of India shocked all of the cryptocurrency marketplaces in India with a sudden order banning all cryptocurrency transactions in India. This order banned all Indian banks from taking part in any transactions involving cryptocurrencies and dealing with firms who use them. This happened at a time when the value of cryptocurrencies was at a peak and disgruntled a lot of investors in India wishing to enter the space. However, this ban could not have come at a better time considering the fact that the cryptocurrency market decreased by half and lost almost $200 billion in value within the next two months.

  • The Growth in Mobile Wallets

In light of other direct payment options like UPI, the growth in transactions involving mobile wallets has gone down compared to last year. As such, these mobile wallet companies are adding new and more exciting features into their services and forging tie-ups with other service providers like e-commerce platforms and cab service providers to continue being relevant in the field. Many of them have also introduced UPI within their mobile wallets to make them more easy to use and convenient for customers. Paytm’s UPI payments alone saw a growth of 600% in the last six months of 2018 alone.

  • Increase in Online Lending Platforms

The number of online lending platforms has steadily risen in the country during the last few years. Between 2015 and 2018, the share of online lending platforms in NBFC’s (Non-Banking Financial Company) has increased to twice the previous share showing a 35% annual average, while the loan share of traditional banks in MSME’s (Micro, Small & Medium Enterprises) decreased from 95% to 90% within the same period. This growth in online lending platforms can largely be attributed to the vast improvements made in the fields of artificial intelligence and data analytics.

  • Collaborations between traditional banks and Fintech companies

Considering how the Fintech sector has managed to overtake the traditional banking system when it comes to offering new and improved services to the customers in the country, several banks have now joined hands with Fintech companies to offer their customers better services. Fintech courses have managed to make the processes of automating services, acquiring customers, credit profiling etc. much easier and more efficient for traditional banks.

Are Fintechs Really An Enabler For The Traditional Banks

Posted on by Imarticus Learning

Fintech or Financial Technology is the new branch of technology that aims to improve and automate the delivery of financial services. In the beginning, Fintech was employed for the back-end applications of the financial institutes. But, since then, the technology has taken a diversion towards the consumer-oriented services. Fintech is expected to change the face of the banking sector in the next two decades.
Whenever a new technology is introduced, a battle for the market domain is typical between the old guards and new entrants. The story is not different for Fintech. So many organisations are out there with an opinion that Fintech is going to make a negative impact on the traditional banking services. This article discusses how the Fintech is going to act as an enabler to the traditional banks rather than being a challenge.
The Technological Challenges: Past and Present
In the past, the financial institution has proven to be slow towards the innovation. Yet, showing great resilience towards the challenges in the past. More than 450 attackers such as digital currencies, networks, wallets etc. attempted to challenge the traditional institutes in earlier days. Fewer than 5 of them have survived to the date. Other than PayPal no one has really disrupted the banks.
But the time has changed. The modern markets and new generation banking customers are promoting the new age financial services. Various reports are suggesting that millennials are more faithful towards the Fintech companies than the traditional banks. The expectations of customers are on the rise, and it is favouring the Fintech companies. With the evolution of the digital economy, the rise is expected to continue.
In short, the transformative forces are seemingly unstoppable with the current social environments. The traditional banks need to elevate their digital experience to survive. However, a complete one-on-one competition between traditional banks and Fintech companies is not going to take place.
The Collaboration
The progress brought by the Fintech courses presents large opportunities for the traditional banking institutes. Rather than disrupting each other, a collaborative movement can benefit both banks and Fintech companies. Following are the few important ways how Fintech can be used to improve the banking services.

  • Reduced operational costs – The efficiency of staff and other elements can be increased through Fintech thereby reducing the operating cost.
  • Expansion – The limitations of the legacy systems can be overcome through the Fintech. This competitive advantage can be used to expand the organisation into foreign markets and new customer segments.
  • Revenue Growth – The Fintech can be used to scale the less capital-intensive business such as insurance and wealth management.

The Fintech also needs these collaborations to succeed. The regulatory challenges and difficulties with scaling the customer base are a great barrier for Fintech companies to overcome. Many researchers believe a “better together” policy is going to profit both players rather than a stealing business strategy.
Clearly, the young generation of banking customers is in need of a better digital experience. It has led the traditional banks to collaborate with these Fintech companies. With banking giants recognizing the potential of this new branch of technology, the demand for well-equipped experts is expected to reach new heights. You can prepare for this lucrative opportunity ahead through various Fintech courses available.

How Can Fintech Become Efficient From a Cost Perspective?

Posted on by Imarticus Learning

Fintech, as we all know, is nothing but financial technology and these fintech startups are working towards making banking hassle-free and cost-effective for the common people. Banks have even realised that fighting these fintech startups will only cause more harm to their business than profiting. Fintech companies are now joining hands with banks to make banking more cost efficient for the customers.
With fintechs being a part of the banking system now, banks are slowly inching towards acquiring more customers, and with the help of technology operational costs are even less, but there’s definitely a flurry of partnerships.
Also, fintech companies hire some of the best minds, people with a degree in fintech courses thus common people have a better customer service experience. Since banks are being able to provide the service that their clients’ desire acquisition of customers have grown by leaps and bounds. For example, RBL bank has a partnership with over 90 startups and has been able to acquire around 30% of its total 2.8 million customers. And, all this has been possible after their tie-up with the fintech startups. They have even tied up with MSwipe and Ezetap which are merchant acquirers and have thus easily become bankers for their merchants. So, RBL has been able to get a huge clientele, and the process was entirely cost effective.
MoneyTap is another startup which has tied up with RBL as well, and they provide RBL’s customer baselines of credit in a simple hassle-free online method. RBL has since acquired 2, 00,000 user through the MoneyTap’s app download! MoneyTap basically targets the lower-middle income group of people for whom getting a loan through the traditional banking method is simply impossible. But MoneyTap offers chatbot tech which acts as the front end of the bank and with some minimal KYC process this strata of customers are provided with a credit line.
Yes, Bank is another bank which has turned to fintech startups like PaisaBazaar and Niyo to make banking cost effective. With the help of the digital channels that these Fintech startups are made of, Yes Bank has basically been able to acquire 20% of its customer base. Their partnership with Niyo, which helps in managing employee salary and expense management has allowed them to issue 35000 reimbursement cards and wallets, which in turn generate 67000 transactions monthly!
Basically, the teams which are a part of the fintech landscape have understood the market trends properly, and they have done some of the best fintech online courses or have been to some of the best fintech schools. These allow them to quickly size up the market need and provide customers with their banking needs in the most cost-effective way possible. In fact, Yes Bank has recently launched, and accelerator programme for the fintech startups and have thus been able to reach a good number of first-time borrowers. This group of people need loans for a short duration, and the fintech landscape offers them just that.
They have been able to reduce labour costs by employing Rupeeseed’s chatbot tech in the brokerage and securities business and have since mitigated the need of relationship managers.

Do Online Fintech Courses Help With Entering The Industry?

Posted on by Imarticus Learning

Over the past few years, one of the biggest developments in the technology space has been fintech. By using the right technology to make banking and money transactions easier, companies have begun reaping the benefits. Fintech is growing at a rapid pace, and newer companies are also looking to adopt technology to make their accounting and bank work easier.
For individuals looking to succeed in the industry, having the right team is important. Fintech is relatively new, so it is crucial that people can understand this to deliver better results.
With the technology poised to play a much more critical role in the next few years, there are a few advantages if you’re looking to begin an online course in the same:

What’s The Advantage Of Fintech Courses?

First up, it is important to understand the scope of the industry. The fintech industry is a big space, and there are many different applications. There are a lot of opportunities for individuals to work with fintech courses – from internet applications, banks and hedge funds. Doing an online course helps you understand the technical aspect but having an above average understanding of finance is vital as well.
You won’t be able to deliver quality output without understanding your industry well, and that’s where the online course can help. A good course will teach you how the industry works and how exactly you can implement technology to aid you to produce better results. If you’re okay slugging it out for a couple of months and learning about the industry, then an online course is perfect for you!
While a lot of people do not have a significant amount of knowledge regarding the fintech industry, online courses will help them. If you’re taking an online course in this space, they are more structured and organised and will be able to help you. Most of these courses also have dedicated teachers to help you clear doubts and progress.

How To Begin?

Blockchain and machine learning are touted to revolutionise the fintech industry so that you could start there. Start by introducing yourself to the subject and slowly familiarising yourself with the concepts. It will take years of practice to master the same, so don’t hesitate in putting the time to study the fintech industry.
There are credible fintech online courses, so research well and choose one that suits your pace the best.
Become an active member of the fintech community so you can meet like-minded individuals and formulate ideas with them. You can get unique insights by attending seminars and talks on the same, and develop your soft skills in the process. This will help you engage better and get the most out of the course you do as well.
Organisations like Imarticus provide a holistic, hands-on approach to finance courses. With a dedicated team aimed at helping you succeed, you are bound to perform well and start your career in the fintech industry.

What you need to know before launching a Fintech Company?

Posted on by Imarticus Learning

A Fintech Company is one of the driving forces when it comes to digital transformation in the banking sector. Innovation, automation, analytics are key things to be taken into account for a Fintech Company.

Fintech maybe the buzz word of the day but it might be interesting to note that the industry is still burgeoning and now the need of the hour are Fintech companies who can address data privacy needs. The banking industry is highly regulated, so one of the top things to consider before thinking of investing in a Fintech Company are the various laws and regulations that uphold the field.

It is important to familiarise oneself with data around this before entering the world of fintech. With hundreds of startups in the market providing different software solutions using the power of technology.

Fintech companies to be built from scratch requires careful planning and thought. Professionals today are preparing themselves to enter the industry by taking on banking courses which will enable them to be better equipped to deal with the demands of the financial world. As a fintech start-up owner, here are a few things to keep into consideration.

 Identifying The Expertise

Fintech comprises of many areas that require different types of expertise. There are many fintech courses that help a business to understand their niche before starting off. One of the key things to consider is which domain would you like your Fintech Company to be a part of. There are many areas such as payments, insurance, personal banking, trading and investment and even providing solutions for small businesses.

 Know Your Tech

Artificial Intelligence, Blockchain, Machine Learning, Big Data, Cloud and many other emerging technologies are an integral part of the fintech industry. Knowing the technology that you initially want to invest in and proceed with for a start-up fintech will ensure a vision based approach for your firm. AI has seen significant investment from many companies in fintech since the technology is progressing at a rapid rate, so it might be a hot topic to consider.

 Innovation Is The Key

While running a business will have its challenges and risks, Fintech is a bit more volatile as an industry as technology is every changing. For a Fintech start-up innovation will form the crux of everything as in the realm of finance, there is a growing demand to meet requirements at a rapid pace. An important thing to look into would be whether the Fintech Company you want to start is able to innovate and provide huge results then it is definitely time to embrace the risk.

Conclusion

Fintech revolution has begun and is on an upward trajectory when it comes to growth and success. However, before starting a Fintech Company it is important to introspect and assess the risks and challenges that come with launching a start-up and be prepared with a plan B.