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Tag: Blockchain

What is Blockchain

Posted on by Imarticus Learning
Reading Time: 3 minutes

We are living in an era where any imagination can be brought to life with the help of technology. One of the most ingenious inventions of modern history stands in the form of blockchain technology.

Many of us have heard of the blockchain word through its application in the field of cryptocurrency but are unaware of other prominent aspects of this revolutionary technology.

There are Blockchain courses specially designed to help people comprehend this progressive technology. Let’s understand what it really is and how does it function.

Understanding the Blockchain Technology

If we go by the definition, the blockchain is a decentralized digital ledger that is spread among a network of people where everyone in the network has a copy of the ledger.

Cryptography is used to link the blocks and every block contains a hash that is cryptographic in nature of the previous block, a recording of the time and data of the transaction made.

The transactions recorded here is verifiable and permanent in nature, it can’t be altered later.

To simplify, the blockchain can be understood as digital information sets stored in public databases available to people in a given network. The blockchain stores transactions of value; it could be monetary or other economic transactions of high significance.

Digitalization, transparency and Immutability are the three pillars of this technology that together makes it revolutionary in nature, eliminating the flaws of the traditional ledgers that used to contain valuable information.

Every block stores information regarding the transactions like date, time, value or amount, information about parties relevant to the transaction.

Every block contains unique information and is given a unique code to distinguish them from other blocks in the chain. This unique code is termed as “Hash”.

How Does Blockchain Function

We have already established what blockchain is, all the new data recorded in a block is added to the existing chain of blocks.

Since we know that the blockchain records transaction of value, let’s take an example of an e-commerce purchase to understand the functioning in context.

So let’s say you saw a discount on your favorite smartphone and you rushed on to the e-commerce store for the purchase. The transaction that happened is verified in public records in order to check later if things don’t fall into place or even for general proof.

This process needs someone who can vet the entries from the new transaction. In the blockchain technology, this process of verification is left to the network of computers who vet the transaction and then record this entry into the digital ledger.

Information regarding the amount of transaction, the time of the transaction, digital signatures of parties involved, etc. are recorded in the block.

The block contains other transactions during the same time, after successful verification of all the transactions in a block; it is given the unique hash code for identification.

Applications of Blockchain

One of the most significant applications of Blockchain technology continues to be in the form of cryptocurrencies that are transforming the financial industry and changing the way people transact and exchange things of value.

It is also used in the field of asset management to process and settle the trade. Another application of the Blockchain technology that is very close to the finance industry is in the form of insurance claims processing, the insurance industry is using this technology to identify fraudulent claims and process the genuine claims faster.

Smart property has opened a new venue for Blockchain application. Reducing the chances of theft of smart property Blockchain will play a crucial role in protecting the ownership of tangible goods of value.

The supply chain industry is also the one that is benefitting from the use of Blockchain technology, the technology adds value in this aspect through sensors that give an end to end visibility of the items in supply by providing information related to live location and the state of goods being supplied.

Other than this Blockchain has also found its way to the healthcare industry that uses smart contracts to store and secure personal health records. The health records can be stored on Blockchain with a private key that would limit the access of this information to a particular individual who has the key.

Conclusion

The blockchain technology is the future, it helps to remove the middlemen in the process who don’t add much value but are prone to corrupt the system. In the most basic sense, it’s a decentralized digital ledger that records information which can’t be altered at a later date.

Blockchain has also opened a plethora of opportunities for people as it is being frequently adopted by organizations and has found its way in various industries including finance, healthcare, insurance, etc.

Blockchain courses are designed to train professionals in this field. The blockchain courses help to build an in-depth understanding about the technology and its applications.

Cryptocurrency Careers that Will See High Demand in the Future

Posted on by Imarticus Learning
Reading Time: 2 minutes

 

Over the last year or two, cryptocurrency has spread like wildfire through the interwebs, evolving from a once unknown form of payment to one that’s preferred and advocated for by thousands across the globe.

Bitcoin and other forms of cryptocurrency are more than just a buzz today, they’re facilitators of job creation in a newly burgeoning payments industry. Blockchain fanatics, rejoice, the job market is opening up– Indeed reported that job postings with keywords including ‘bitcoin’ and ‘cryptocurrency’ have shot up by a whopping 621% since 2015. A cryptocurrency career is one of the most sought out types today, with Indeed seeing a 1,065% growth in searches for these jobs.

Cryptocurrency-related jobs range from miners and data scientists to developers and blockchain experts. But these are the careers and jobs that are likely to see very high demand in the future:

Blockchain Engineer

Since blockchain is the system that enables the existence of cryptocurrency, blockchain engineers will be in high demand in those sectors and industries looking to hire for cryptocurrency systems. Blockchain engineers have the power to build new applications, even new currency modes for use in the crypto-world. They can either choose to focus on developing the technology itself or concentrate on the elements that interact with the system on varied scales, including currency or protocols.

ICO Developer

ICO means Initial Coin Offerings and is a fund-raising technique that enables startups to sell their crypto-tokens in exchange for other cryptocurrency or fiat currencies. It’s considered a boon for many startups looking to immediately raise capital but not wanting to deal with the taxes and charges that come of raising and transferring funds in regular currency. An ICO developer helps to form the new currency and form a platform for distribution and trading.

Security Architect

Cryptocurrency systems, in general, are much harder to hack into when compared to traditional financial transaction systems. That said, cyberattacks are increasingly growing sophisticated, which means no system is 100% safe. A security architect is usually tasked with protecting the company and its blockchain or other technology from external threats and exploitation of vulnerabilities. They also help to prevent and offset financial transactions and fraud. Knowledge of information technology and web development is crucial to land such a job, as is attention to detail and solution-building skills.

Technical Writer

Cryptocurrency is not for the techies alone, contrary to popular belief. Companies looking to create newer types of cryptocurrency are often looking for technical writers to write creative content that will attract investors and customers. These types of content could range from blog articles to whitepapers and pitch decks. Technical writers may also need to liaise with marketing and branding departments over the digital and offline promotions in the pipeline.

Conclusion

Despite a rocky first few steps, blockchain and cryptocurrency are alive and well in today’s world and fast gaining exposure. A cryptocurrency course will enable fresh graduates and current employees to upskill and delve into the industry while it’s still in its nascent stages. A deep intellectual curiosity and the ability to deal with changing times are perks, too!

Who provides the blockchain certification and how long is it valid for?

Posted on by Imarticus Learning
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Who provides the blockchain certification and how long is it valid?

Blockchain is a term that refers to the peer-to-peer transaction of the digital assets created to support a crypto-currency called bitcoins. In today’s era of continuously advancing technology, blockchain has a wide range of applications including healthcare, government, finance, manufacturing, and distribution resulting in huge demand for blockchain professionals. 

Blockchain is not a single technology but an architectural principle that requires a piece of specialized domain knowledge. This domain knowledge can be acquired with the help of online training courses and certifications available in this technology. Certified professionals have an additional advantage of validating their knowledge.  Presently, there is a huge demand for certified blockchain professionals in the market.

A certified blockchain professional is required to have profound domain knowledge of the technology so that he/she can build blockchain-based applications for businesses. Once a person has acquired the domain knowledge, they must be very clear with the type of certification. A check on the pre-requisites of a particular course is also a must. When a person is confident with the mentioned criteria, he/she can take up the course to become a certified professional.

Most of the e-learning websites offer courses on blockchain specialization but they are not very holistic. Therefore, choosing the right course is very important. Some of the preferred courses for blockchain certification and specialization are listed below.

Blockchain Council

Blockchain council offers a wide range of blockchain certification courses for individuals who not only want to expand their knowledge but also want to apply it to solve real-world problems. The various types of certifications offered by the blockchain council are certified blockchain experts, certified blockchain architects, certified blockchain and HR professionals, etc. These certifications are valid for a lifetime.

Cryptocurrency Certification Consortium(C4)

C4 offers certification to individuals who have already established some kind of expertise in blockchain technology. It provides certification in fields like certified bitcoin expert and cryptocurrency security standard auditor.

IBM Developer Works

IBM offers certification courses for strengthening the basic building blocks of blockchain technology as well as for getting deep knowledge about the concepts. The certification contains an open badge that lets people share the authenticity and validity of the certification.

Edureka’s Blockchain Online Course[MOU1] 

Edureka offers online certification to individuals as product managers, solutions architects, support professionals, project managers and software developers who want to get a basic as well as in-depth knowledge about blockchain technology. The certification requires some pre-requisites such as a basic knowledge of networking and Linux operating systems. These certifications are valid for a lifetime.

RMIT University

RMIT is Australia’s first university that offers a course on blockchain technology. It is developed in collaboration with Accenture and the largest fintech hub of Asia named Stone and Chalk. It is an 8-week long course dedicated to both the theoretical and practical aspects of blockchain technology.

Conclusion

Blockchain has revolutionized the trade of digital assets. Through its concepts of validation and verification, it creates a strong trust amongst unknown peers, resulting in huge demand for a blockchain career. Online courses have made it possible for individuals to increase their practical as well as theoretical knowledge about technology. A further contribution and boost to an individual’s career are provided by the certifications through online training and courses in blockchain technology.

 

What Projects are Included in the Blockchain Training Course?

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Reading Time: 3 minutesWhat Projects are Included in the Blockchain Training Course?

Popularized by the Bitcoin cryptocurrency platform, blockchain has been making the rounds recently. Introduced as a triple ledger system for the administration of Bitcoin cryptocurrency, blockchain is now being applied to all aspects of a business.

Many students and professionals are aspiring for a lucrative career in blockchain. With a high potential to change how business is executed, there is a surge of interest towards blockchain in recent days and many institutes in India offer blockchain training courses.

Projects in Blockchain Training Courses

A blockchain training course offers real-time, real-world, industry-based projects.

Most of the projects teach you how to develop a blockchain, deploy cryptocurrency on the blockchain that has been developed, and how to set up an ICO on the cryptocurrency.

Listed below are examples of some industry-based projects offered in a Blockchain training course:

  • Project for Verification of User Identity

This is a project where you learn to develop a smart contract to verify the identity of the user before allowing to access the application.

  • Project for Finance Company Business Network

This project helps you understand how to use Hyperledger Composer to create a business network for a finance company, to test it and to place it on a cloud platform like IBM Bluemix.

  • Project for Healthcare Insurance

This project is designed to help you understand how to use blockchain to automate the processes in the health insurance domain and to improve it. You will learn to develop a business network that aids the patients to opt for health insurance from the health insurance provider.

  • Project for Rating Movies

Blockchain can be used in the entertainment industry too. This project teaches you to create an application and create a smart contract for a decentralized movie rating. You will also learn to test the application on a local blockchain network.

  • Project for Banking

This project demonstrates how blockchain is used in a banking application. In this project, you will create a simple smart contract for a bank that allows the customers to perform bank transactions such as depositing money into the bank account, withdrawing money from the account, checking the account balance, and deploying it on a test net-like Ropsten network.

  • Project to Create a Network for Animal Tracking

You can have a blockchain career in the farming industry as well. This project is to help the farming regulatory body to create a network that helps track the animals on the farm and the movements of animals between farms.

  •  Project for developing a Smart Contract to Design a Digital Token

This is to help you learn how blockchain is used in the financial industry. You will be assigned to design your own digital token that can be utilized as an asset, currency or share and to develop a smart contract to issue it.

  • Project for a Decentralized Marketplace

The challenge is to create a smart contract that helps avoid the issues of the centralized markets and to develop a decentralized marketplace application.

  •  Project for a Multichain Stock Exchange

In this project, you will bring in optimization to the stock exchange which is otherwise expensive and centralized. The solution is to create a stock exchange model that helps to decentralize and simplify the multichain system and to make it faster, secure and transparent.

Conclusion

The projects mentioned above are some examples to understand how blockchain can be used for different industries. While some courses give you specific industry-based projects, some allow you to use your imagination and knowledge to come up with new ideas. The essence is that if you aspire for a blockchain career, you need to understand how blockchain works and how you can incorporate it into different industries.

 

How Fintech is Transforming The Financial Industry?

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Reading Time: 3 minutesHow Fintech is Transforming The Financial Industry?

The digital industry has made huge advancements in the last two decades. Now, every industry is using these new technologies to integrate their process with highly sophisticated systems to get better results. Even in the Financial Industry, we are seeing a huge shift in the use of smartphones and PCs for banking, investment and even digital currencies such as cryptocurrencies.

Fintech, short for Financial Technologies, are the latest changes and enhancements offered to the customer to ease their financial services. In India, a country with a billion people, these financial changes have resulted in better customer experiences altogether.

International-level Fintech Courses are offered at Imarticus Learning for students to have rich experience in this new style of banking. The staff uses the latest curriculum to offer their expertise and build a strong foundation for students in this comprehensive financial course.

Many companies have come up with unique products like mobile wallets, cash cards, etc, where consumers don’t need to carry cash to buy things. Consumers can easily send a digital confirmation of sending money to merchants rather than sending paper money. Even the Indian government has offered its support with the emergence of UPI (Unique Payment Interface), an instant real-time payment system which allows the direct bank to merchant transactions using their personalized credentials and an internet-accessible device.

Now stock markets are accessible to internet-based devices. Investors can trade online using these sophisticated platforms smoothly. They can observe the behaviours of the foreign exchange in keeping with their investment to make changes with just clicks on their smart devices. Custom alerts are there as notifications for your specific funds and stocks. Now, robot advisors provide investment assistance using machine learning algorithms with minimal human intervention. Consumers with little or no information about the market funds use these automated systems for assisting them for building their investment portfolios.

Fintech is also quite helpful in assessing underserved customers and small businesses with effective financial services. Automated offers are generated to these customers for affordable loans, keeping the costs for loan processing to a minimum. This was possible only with the analysis of large data using machine learning programs to find consumers with positive activities. Fintech training is now a prerequisite for modern professionals for applying for the best jobs in the financial sector.

The e-commerce industry has gained the most with consumers now using online activities for checking and buying through an online payment gateway. Debit cards, credit cards, and electronic wallets have eased the process of financial transactions. Consumers get an OTP message for each transaction they carry out on their devices keeping a double check on their financial activities. With Fintech in the future, consumer fingerprints and unique eye retinas can further increase the speed of verification.

The International Monetary Fund(IMF) and the World Bank have collectively presented Bali FinTech Agenda on October 11, 2018, consisting of 12 specific policy elements as government guidelines and guidelines to central bank authorities to apply rapid advances in financial technology.

These Fintech Courses are the need of the day. Top finance companies are now hiring individuals with skills and experience in these new technologies, they are better equipped to understand these concepts and carry forward these changes to the future. Fintech has completely changed the way people used to do banking. It offers a unique experience for consumers to manage their financial transactions.

Imarticus Learning is a leading institute in real-time Fintech training for imparting education in this industry with the highest standards. Students who are interested to know more can contact Imarticus education counselors for more information.

How Blockchain Can Transform Our Economy and The Way We Do business In The Future?

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Reading Time: 3 minutes

 

In words of a techy, Blockchain is a decentralized electronic ledger system that creates secured transactional records using cryptography which is irreversible corruption thus putting a stop to malpractices of corruption. It can be used in any transaction involving money, property or other goods of value.

Blockchain is the latest transformational innovation using technology. The distributed ledger holds accountability on the user’s end and is spread amount a network of peers. The security of the blockchain lies in the architecture of the technology, spread across multiple users it’ almost impossible to hack as changes from anywhere around the world are updated based on the reach of the network.

In the most basic form blockchain technology can be explained as a medium to record economic transactions in a digitalized form using cryptography to secure the data and maintain transparency in the recording of the data for better accountability in the system. Blockchain is a democratized system in the purest sense.

The Blockchain Economy

The evolution of the economy has been beyond bounds, from the ancient period of barter systems to money as a mainstream method of exchange provides a snippet of this drastic transformation. Adding to this evolution is the latest trend of blockchain technology which has given a new method of exchange and fulfilling of transactions.

The latest version of the economy is impeccable in terms of having any external influences and corruption malpractices. The blockchain economy shows a promising future for the economy, unflawed by any one individual bringing more stability and accountability.

The center of attraction is the concept of using cryptocurrencies as a method of exchange for various transactions which were earlier facilitated through government-backed monetary authorities using their currencies.

Curbing out the middlemen from monetary transactions, blockchains aims to improve and reduce the cost of transactions for people using their cryptocurrencies. At the foundations of cryptocurrencies is the revolutionary blockchain technology.

To have in-depth knowledge about the blockchain economy one needs to understand their method of exchange, which is the cryptocurrency. Cryptocurrency is a type of digital asset that serves as a medium of exchange for financial transactions. Cryptocurrencies use blockchain technology to provide transparency and security for transactions of value. Shaping the era of capitalism, blockchain technology is the catalyst for this remarkable feat.

 Blockchain transforming the business

Now that we have made ourselves familiar with the blockchain technology and the economic model using this technology, let’s jump into the applications of the same!

In today’s scenario, evolution in the technological landscape causes a chain reaction in other industries. Almost every industry depends on high technology to conduct and improve its business. Better technology not only saves time and money but also helps to increase productivity and in turn profits for the capitalists which are the end-goal in the era of capitalism.

Blockchains are also referred to as ‘Smart Contracts’, Improvement in the enforcement of the contracts through blockchain is paramount. The contract is automatically enforced and since it requires the approval of all participants the rate of default is almost negligible. Failure to comply with the contract will lead to confiscation of the payment. Replacing the traditional methods of the contract the blockchain sets accountability into motion.

The majority of business houses rely on high technology in their operations given the value it adds to in terms of increasing efficiency and productivity. Cybercrimes are commonplace today and lead to a substantial loss of data and money given the importance of the data in the contemporary. Given the decentralized structure of storage in Blockchain, it provides a more reliable method of holding and securing important data. The information is stored in decentralized fragments making it hard to trace and hack.

Conclusion

With the emergence of cryptocurrencies and the revolutionary changes in the business landscape, the blockchain technology seems to be adding value everywhere given its decentralized and transparent functioning. The blockchain economy emphasizes on creating a more robust network and removing the arbitragers in majority segments who do not hold any intrinsic value but are only functioning due to the informational arbitrage in the economy. The technology also improves security and aims to reduce the cases of cyber crimes given its decentralized ledger construct.

What Are The Fintech Trends That You Can’t Ignore?

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Reading Time: 3 minutes 

The fusion of technology with finance brings out the perfect recipe for the exponential growth of the economy. The Fintech industry is setting new heights of what can be achieved through technology when applied prudently. Adaption of Fintech technology is the need of the hour. The Fintech technology not only provides a way to record the transactions securely but also provides convenience and cuts the time taken to process a transaction on a massive scale.

Saving time and securing data are the two by-products that have a lot of impact on our daily functioning. The adaption of Fintech is growing exponentially, in the present scenario the penetration of this technology has been on very deep levels, improving the lives of people in the remote locations as well.

Changes in the financial landscape

Fintech has dramatically improved the financial industry in many aspects. The big players are focusing on customer experiences which lagged earlier before the Fintech start-ups started setting shops in the neighborhood. Most of the banks and financial institutions are coming up with their tech-savvy financial innovations, technology has been a big contributor to employment in this domain.

Artificial Intelligence continues to innovate and evolve the Fintech domain, the Fintech courses are developing a new commerce interface with the help of AI to help ease the banking experience. Robo-advisors and voice feature in banking seems to be catching up with bots being designed to handle and provide the customer with the relevant information online.

The entrepreneurial bug has been a major contributor to the Start-up Ecosystem. With the increase in the number of start-ups in different domains, the need to finance the operations has been immense. Helping those with fund scarcity from investors, the Fintech companies are their go-to guide for financial help. Providing the small and medium-sized businesses with financial aid in their endeavor the Fintech companies are propelling the wheel of the economy.

Banks have started focusing on providing loans and other credits to millennials instead of just well-established individuals. The millennials contribute a substantial amount to the spending economy. The growth of digital wallets and UPI payment methods have helped to ease the cumbersome process of monetary transactions.

Contextual banking has caught up by the storm, the contextual banking model is focused on providing the banking and related services at the right time and the right place to the customer based on the data gathered on customer preferences. This is a major trend in the Fintech domain helping to target the right customer with required services for better revenue generation.

Fintech adoption

The general customer awareness regarding the Fintech Industry is at an all-time high. The rate of adoption on a global scale is more than 60%, people in remote areas who didn’t have bank accounts in the first place have adopted this payment method just because of the convenience it provides when compared to traditional methods of banking and carrying out monetary transactions.

In a world where people have started spending on experiences rather than goods or services, we cannot put a cap on convenience in terms of possibilities and people’s willingness to pay for the same. The applications of Fintech is beyond bounds every new day witnesses a new possibility since we are in the early stage of adoption of the Fintech tool.

Business to Business (B2B) payment system has got a push recently in the Fintech domain, earlier the services were designed to cater to the needs of Customers and not businesses. The B2B payment module is a lot more complex and tied with cumbersome paper formalities, the goal has been to automate the manual process and make it simpler just as for the individual consumers. In addition to this, the focus is also on making B2B lending hassle-free.

Big financial institutions are getting on-board in this Fintech revolution either through a strategic partnership or through investment in the same. Artificial Intelligence plays a crucial role in creating a more robust Fintech space and adding a lot more to this evolution of finance and technology fusion.

Conclusion

The future of Fintech companies will witness an unprecedented level of growth and evolution will follow in the financial domain as it has been linked with technology which is ever-evolving for the better. The general trends show high adoption and acceptance rate for this domain, Individuals, as well as business houses, have decided to hop on this revolutionary technology given the benefits it holds.

For more details, you can also visit – Imarticus Learning and can drop your query by contacting our Live Chat Support system.

How A Blockchain can boost HR hiring in the Gig economy?

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Reading Time: 3 minutes 

If you are not very familiar with the functioning of the blockchain technology then you’re in for a treat. The functioning of blockchain technology involves using a distributed ledger to record transactions of value removing the middlemen in the process and establishing accountability and authenticity in the recording of data.

In the nascent stage of the technology, the major implications were recognized in the field of finance and related sectors.  Forming the backbone of the cryptocurrencies, the blockchain technology has unraveled a plethora of opportunities for a new economic structure.

Capitalism has evolved to shape a new form of capitalist-proletariat relationship, the new era has a lot in stores for those who don’t want anyone else bossing around. The Gig Economy has been a boon for those who choose to be their own boss. It’s different from a contract and far away from the permanent role of an employee.

The gig is a slang used in the English language for short term work usually a contract with a company, where independent workers offer their services for the said duration or for the completion of the project.

The Gig Economy has been flourishing in the times of the digital buzz, in the digital age location is no longer a factor taken into consideration for employment, making a large population of workers available for independent contracts to earn their livelihood.

The Gig economy puts the free forces of capitalism into an effective state, filing up the demand and supply gaps with independent workers. This version of the economy prioritizes a skill-based approach for work rather than the traditional method of educational qualification.

The gig economy also factors for the frequent job change by the millennials creating a better version of employment that suits their needs. The rise of freelance workers has been drastically high creating room for more autonomy and work-life balance.

The digitized version of money in form of cryptocurrencies and the digital workforce puts blockchain and the gig economy in a contextual frame. The gig economy is bringing a cultural and occupational change in the digitalized world! The gig economy is cultivating the entrepreneurship instinct among individuals.

Blockchain in Human Resouce

On a more thought-full note, the implications have also been recognized in the Human Resource sector. Hiring a candidate fit for the role with optimum skillsets is a bigger challenge than it seems, people might think that there are millions of job seekers who are looking for employment but how they fare on the criteria of the company is a different story altogether.

To judge a candidate on the basis of the skills they possess the people in the hiring department need a piece of evidence in the form of degree and certifications verifying the stand of the candidates. Job seekers carry the physical copies of certifications and degrees with them every time they go for an interview.

Blockchain courses aim to address the above-mentioned problem by creating single digital storage of all educational and professional qualification spread across different databases so that the only thing the recruiters need will be that single digital identity. This will also help to address the problem of fake qualifications mentioned on the resume, which candidate often attempt to do in order to gain better employment.

Background screening & payroll are the two scenarios where the use of Blockchain seems very possible and it will also aim to address all the loopholes that the present system has inherited. Blockchain will help to keep a record of the education and skills and workplace performance of employees securely.

Most gigs are typically a short term contract, to hire people for a contract bug companies use intermediaries to do the job on their behalf of finding gig workers, Blockchain steps in to remove the intermediaries from the picture. Gig workers can be employed for projects without complex verifications as most gigs are skill-based instead of prioritizing educational requirements.

The gig workers have their own set of problems when it comes to being paid for their services, they have to wait for a longer period to earn their much-deserved paychecks, blockchain can efficiently solve all these issues and help cultivate the gig economy to larger scale.

Conclusion

With the numerous implications of the revolutionary Blockchain technology based on the concept of distributed ledger, the HR segment has many benefits to avail. From impeccable background verification to holding records of employees to removing the intermediaries required to hire gig workers blockchain brings a whole lot to the table.

Why Open Interconnectivity of Financial Services is The Future?

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Reading Time: 2 minutesThere are a lot of times when future predictions are made about every industry. So is the case of the Banking and Finance industry.   Banking and Finance industry has been growing consistently but is now experiencing a breakthrough. This breakthrough can be simply translated into two parts:

1. Globalization: Rapid transactions from one territory to another due to import/export of goods and services.

2. FinTechs: An amalgamation of the Finance industry with technology to yield better service and productivity.

This blog is about the second one- FinTechs. FinTechs are redefining the future of banking and finance by creating an ecosystem of faster services and safer transactions. There are a couple of FinTechs which either come as a SaaS or as APIs which can be integrated as and when required to render the right product mix.

To understand which product mix fits the market, there are various institutions which give FinTech courses and FinTech training justifying the demand for knowledge and implementation in the same.

Hence, FinTechs are not just hot topics. Their interconnectivity as API and SaaS comes in the picture while evaluating their scope. Talking about some common APIs in the banking and finance industry, the following are the most demanded ones:

1. 23% – Account and Data Aggregation
2. 16% -Enhanced Credit Scores
3. 16% – Intelligent Financial Management
4. 16% – New Payment Methods
5. 6% – Automated Affordability Analysis

Now talking about how to open interconnectivity of financial services is the future of banking and finance, here are a couple of pointers that will help you to understand the purpose of the integration process in a better way:

1. API Hierarchy: Banks need to constantly experiment with APIs that they want to develop in-house and the ones which they need to get from FinTechs. Such an integration aims to keep the core of the bank constant but at the same time introduce technology in a way that it is helpful to the end-users.

2. Choice and Value for Customers: Many of the private financial institutions strive to maximize value for the customer. Hence an open integration might help them increase their customer base while retaining their existing customers.

3. No Big Players Any More: There are only big players in the financial markets. However, after the coming of FinTechs and API ecosystem, a lot of business has been shifted with the small players breaking a monopoly sort of a structure in the industry.

4. Innovation: With open finance and banking opportunities, the industry can bear the fruits of innovative marketing mix which minimizes the cost and maximizes the value.

Multiple startups are trying to disrupt the whole space with cutting-edge technology and innovations. Hence, there is no doubt about the fact that such an integration of innovation and traditional values of the finance industry would yield better results for the economy as a whole.

Sounds interesting right? The working of markets makes it quite evident as to why the generation must take up FinTech courses and FinTech training if it foresees a future in this industry.

Imarticus Learning is one of the prime institutions delivering FinTech courses to the students. The experienced faculty, cutting-edge teaching methodologies and the right infrastructure at Imarticus Learning make it an obvious choice for students who see a career in Banking, Finance, and FinTechs.

As the icing on the cake, Imarticus Learning is famous for its intensive and immersive training which makes it possible for the student to take courses both online and offline. This makes the courses available to anyone, anywhere. So what are you waiting for? Enroll now!

What Are Some Useful Fintech Applications For Small Businesses?

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Reading Time: 3 minutesWhat Are Some Useful Fintech Applications For Small Businesses?

Modern times have seen the influx of digitalization and NBFCs and banks alike are scrambling their way to adopting modern technology to retain their profit margins and competitive business edge. India’s Digibank or the Kazakh B1NK offer purely digital services and are yet able to give the others a run for their monies.

Blockchain technology and fintech startups have lowered the revenue from traditional banking fees and ease of banking. Thanks to the innovative apps, many mobile-based and usable on the move, banking is slowly transforming into a very competitive field. New-age banking, boutique banks, and Fintech courses are such moves to personalize banking services.

Fintech courses teach you about app-building technologies, programming languages and integration of web, desktop or mobile platforms. Since these technologies are relatively new and have been developed just a decade or so ago there is no dearth of training institutes like the reputed Imarticus Learning to hone your skills. These do a great job of providing trained personnel for these skill-based and in-demand professions while even encouraging startups and entrepreneurship.

Let’s explore very briefly some of the many fintech apps in their respective segments that have revolutionized their niche sectors.

Apps for processing of payments:

The global leader is Paypal where the mobile app clients can use their phones for fund transfers to any global Paypal account using the recipient’s email address or mobile phone number. Due.com  is specifically for small businesses and comes with invoicing services, encrypted safe transactions, digital wallet, and fast operations. iZettle another fintech innovation in apps allow payments through credit cards and wallets from smartphones and can even issue online receipts for them. Mobikwik which is also popular is a user-friendly digital wallet to pay bills, recharges, insurance premiums etc straight from the bank accounts.

Apps for personal loans:

LendUp is a select US areas mobile app for 24/7 short-term personal and instant loans with both mobile and web versions. The users earn points for being active and these are redeemable as an instant loan on the app. Sofi another web app provides wider service with mortgages, personal loans, refinancing loans, student loans, free investments, and online financial products with rates being based on the user profile.

Investment apps:

In wealth management apps like Wealthfront and Betterment are playing the digital financial advisor on the web and mobiles both Android and iOS. You can access various account types linked to specific goals like Fintech courses, retirement, college funds or financial planning, portfolio management and other tax harvesting plans.

Cryptos related apps:

Digitalization and the need for secure and private immutable financial transactions have given way to cryptocurrencies by exploiting the blockchain technology. Bitcoin Checker is a free Android app with real-time prices of all global cryptocurrencies on exchanges like McxNOW, Gdax, Kraken, Gemini, OKCoin, and many others. The Blockchain Bitcoin Wallet leads in popularity and uses a QR scanner to facilitate iOS smartphones and iPhone camera app users to easily send, buy or trade-in bitcoins.

Coinbase’s free Android app or Bitcoin Wallet is very useful in trading, storing, selling or buying of various cryptos like ethereum, bitcoins, litecoins, dash, monero and more. It also provides secure operations, cryptocurrency management and as a Paypal transaction enabler on-the-go.

Customer-friendly mobile banking apps:

Mobile banking apps are a rage and many fintech startups have used this niche to help banks adopt progressive cutting-edge technologies to ensure the best customer service by making their banking operations secure, personalized and effortless.

Citibank’s Citi Mobile is an Android and iOS mobile app that is very popular since it provides the FICO score, allows TouchID access to user accounts, allows for an account glance sans signing in, activation of cards, providing snapshots of Citi Mobile and more. Similarly, JPMorgan Chase’s Chase Mobile and mobile apps of Bank of America and Wells Fargo all personalize their application for optimum use of their customers.

Parting notes:

The applications of fintech which is relatively new are many and can cater to the entire gamut of enterprises small, big, startups and every size in between across literally every sector an app designer could dream of. If you want to keep abreast of the latest technologies and learn more about the blockchain technology then try the Imarticus Learning Fintech courses. They can help make you career-ready and adept at the requisite fintech skills. Why wait?

For more details in brief and further career counseling, you can also contact us through the Live Chat Support system or can even visit one of our training centers based in – Mumbai, Thane, Pune, Chennai, Banglore, Hyderabad, Delhi, Gurgaon, and Ahmedabad.