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Tag: Financial Technology

Why Blockchain Engineers are in Demand?

Posted on by Imarticus Learning

There is a massive demand for blockchain training and talent and there is plenty of capital waiting to back it up. More than $3.7 billion has already been gathered through Initial Currency Offering (ICO) in the United States alone. Jobs in the blockchain sector are growing rapidly and according to the survey, there are now about 14 to 15 job openings for every one blockchain developer.

According to Nick Szabo, the developer of “Smart Contracts” there is a massive dollar to knowledge ratio in the blockchain space where capital outpaces talent.

Total – a marketplace for tech talent, is publicly releasing their blockchain engineering talent out of private beta. The total represents about 50 percent of engineering labor by revenue in today’s software development landscape. The demand for blockchain engineers has grown more than 700 percent since January 2017.

According to their records, almost 50 percent of the completely managed software development projects require blockchain skills. According to Toptal, if the requests are properly divided, it is possible to improvise on the blockchain development languages and knowledge areas that are increasing in demand.

fintech certification
Toptal’s founder and CEO, Tase Du Val is of the opinion that this paves way for some predictions on the blockchain development at large. Different types of contracts, according to him are going to be disrupted first and this disruption will mostly happen in the deals made that require complex contracting or even asset management.

Payments are complicated and to work at scale, asks for the Central Banks and Governments to sign-off. According to him, payments won’t come first and contracts can do without a sign-off, as they are a lower barrier to entry. The contracted space gets disrupted first as they are less regulatory hurdles.

The need for on-demand blockchain talent today is super high. Just the previous year, Upwork, which is a freelance talent market place, saw a massive rise in the blockchain which was registered as the fastest growing skill out of more than 5 – 6000 skills in terms of freelance work. These were spread over ICO advisory services, various engineering projects, and overall blockchain consultancy.

Toptal’s release of blockchain engineering talent in its freelance market might also pave the way for other great things. It can assist with the blockchain ecosystem, development overall by cross-pollinating projects as on-demand engineers share knowledge from one project to the other.

Moreover, it can also help for the overall growth of the blockchain talent pool through Toptal’s engineering skill development program that will in-turn help their existing pool of engineers to be up-to-date on the blockchain.
The blockchain engineers of Toptal are working on projects like the Hashgraph which looks into scalability issues on blockchain integrations alongside big public companies like SinglePoint.

In turn, all the clients who use Total for their projects and their remote workforce that span over 100 countries, gestures the further development of blockchain engineers with actual applied experience, allowing their clients to even hire them for a contract-to-hire fee.

How do you become a bitcoin/blockchain expert?

Posted on by Imarticus Learning

In the US companies like the conservative IBM, groups like the R3 Consortium and newbies like Bloq and several others were responsible for transforming the Bitcoin blockchain into the revolution of Blockchain technology. The core feature of blockchains is the distributed ledger which is public and stores all transactions which are verified, recorded and make use of cryptography for encryption resulting in unbeatable trustworthy, secure and transparent transactions. The awesome features of blockchains can be used in

  • Financial transactions and sectors needing immutable records like banks, stock markets, real estate transactions and such.
  • Recording rights, trademarks, patents and preventing plagiarism in music, literary, entertainment, art and such fields.
  • Legal contracts, recording of registration, agreements, transfer certificates, etc.
  • Insurance, Healthcare, subsidy distribution, and such sectors.

Types of Developers:
As a tech-geek, you can become a Core Blockchain Developer or a Blockchain Software Developer. Core developers deal with architecture development, protocol design, decision-making, consensus design, and design development. The developers of software deal with the protocol and architecture used in creating blockchain enabled applications.
fintech certification
Tech skills required:

  • Coding skills are essential for logical interpretations and quantification.
  • Cryptography and its methods like the hash functions (KECCAK256, SHA256, etc) and a digital signature generating asynchronous cryptography.
  • The architecture of blockchains laid out in the Bitcoin whitepaper, fundamentals of distributed and centralized networks, consensus, cryptographic hash functions, and distributed ledgers in blockchain fundamentals, its architecture and working, convention theory used for decentralizing the architecture, MVC, Document-view, MVVM, fundamental communication architecture, G and bus architecture.
  • Programming languages and relational database procedural languages like OOPs, C, JavaScript, C, etc.
  • Structures of Data including data structures like Stack, Merkle trees, Patricia trees, advanced cryptography, Queues,  LinkedList, Tree, Hedera HashMaps, etc.

·Smart Contract enablers like Truffle suite installation and working on Mac, Windows, and Ubuntu.

  • Platforms and frameworks like HashGraph, Hyper Ledge, Ethereum, EOS, etc.
  • Development of Smart Contracts including functionalities of smart contracts and specific network languages like Ethereum’s Solidity, Chaincode, Viper, etc.
  • Web-Development both front and backend decentralized application development, handling APIs, requests, Dapps based interactive GU interfaces, etc.

Job scope and payouts:
Indian salaries range according to Glassdoor in the range of Rs19 to 21K in India for fresh candidates and Rs 288 to 313K for the experienced at higher levels. In the US Application Developers get an average salary of 85,534$ pa and for a Software Engineer, it is about 98,460 $ pa. According to Upwork blockchain engineering and development is the second most-evolving sector.
In parting, if you are interested in pursuing a career as a blockchain developer then do a certified course from a reliable institute like Imarticus. This ensures you get both the theoretical knowledge, technical skills to adapt the learning into solutions, and practical knowledge of trends and industry-relevant knowledge to further your career. To learn all about blockchain technology or the bitcoin blockchain one can do a fintech course. Such blockchain certification can give your career a head-start.

Fully Utilize Fintech to Enhance Your Business

Posted on by Imarticus Learning

 

Fintech is the word evolved through the merging of “Finance” and “Technology”. As the word suggests, the term implies the development of the financial department in any business through technology. Though the word is a new addition to the Oxford dictionary, it is a dynamic and evolving part of business procedures.

It is an undeniable fact that like any other field, the world of business cannot go ahead without the tools of technology. Fintech courses have made the world of business and money transactions a more cohesive and transparent space against the traditional methods of banking, accessible to a maximum number of people because of greater internet expansion.

So how does one utilize this technology to enhance one’s business? Awareness is the first need. One must be increasingly conscious of the different developments made in the world of financial technology while data is a democratized commodity. While keeping a tab on other financial entrepreneurs, one must notice the critical technology involved in a specific process.

Keep your eyes open to the world of app development used for economic interactions and also to the growing platform of social media to expand your business. Not only is it an essential approach for the large growing industries but also a boosting option for smaller start-ups. Thus, whatever be the level of your business- keep a note of the following Fintech-utilization tips to boost it forward.

Artificial Intelligence has expanded the horizons of Fintech. The right investment in the right technology can open doors to your business for various customers. Techniques are developed every day, and web developers keep working on algorithms and apps which can be beneficial for your business if you utilize them with the right innovation.

New products come to birth through such creative ventures, which can create the required hype for your business. Crypto-currency, for example, is an area of growing interest in financial investment, and its growth depends on its transparency with data available to any investor.  The most important feature to determine the success of your product will be the accuracy on a real-time basis.

Financial inclusion is another critical aspect of utilising Fintech. Your product will be appreciated well if it reaches the economically weaker sections of the society who are otherwise deprived of greater luxuries of finances. Make your product reach these nooks and gaps of the broader economy. For example- mobile payment apps have significantly become popular because of their use among household transactions at the minimum of the local level. In turn, these apps have also developed links with banks which has benefitted not only the app’s business but also the convenience of its customers.

At this point, one must note that your innovative Fintech product should not aim at going against the traditional banking finance, but instead merge with them to enhance each other’s capacities. Try to develop associations with the existing trustworthy banks to increase your credibility points in the market. Safety and security are often significant concerns in the online exchange of financial data.

The privacy of an individual customer should be held with the utmost regard. Third party frisking of data may lead to hackers exploiting data, and this may cause a massive rupture in the development of one’s business. Therefore, one cannot take any risk with data security measures and must always keep a tab on them.

Finally, utilise the pre-established platforms of social media to expand your business or your product. Not only will you reach a guaranteed set of followers but also a realistic chance to be popularized through them. Let the world spread the excellent work that you do!

How to Solve Issues With Fintech?

Posted on by Imarticus Learning

 

This is an era of open innovation. There is a massive opportunity for FinTech businesses and FinTech start-ups around the world right now. Research shows that there are currently about 3 billion people around the world who don’t have access to adequate financial services. They are undeserved in some way. Research indicates that there are somewhere between 2.1 and 2.5 trillion dollars of funding that is currently not available for small and medium customized businesses around the world. That means that there is a massive market opportunity to serve these individuals and small businesses along with opportunities to incorporate them in the financial system. Combined with this demand is the emergence of a new kind of supply and that is FinTech.

Solutions through innovations coming from emerging markets in the area of FinTech

The use of Alternative Data and New Data for credit scores:

A massive population around the world is, but their credit scores aren’t reflective of that. More importantly, a lot of people don’t have credit scores at all. That means they are un-scored and not able to access financial services and a whole list of other services despite their credit quality. FinTech helps support businesses that contribute to solving such a problem. Companies are dealing with Behavioural Credit Scoring online to supplement and complement existing credit scores.

Therefore if someone is on the cusp of getting or not getting a loan, these companies conduct an online behavioural interview and potentially put the customer into the borrower pool. There are also other companies which use the lending institution’s existing data and mobile and different kinds of data to improve scoring; create proxy scores for the potential borrowers.

The fundamental problem that FinTech is helping to solve is the information asymmetry issue. Large incumbent financial institutions in a lot of these markets may want to serve this class of borrower be it an individual or a small business. But they don’t have the infrastructure to help them, and they also don’t have the information they need to underwrite them; in the case of credit.

FinTech businesses and FinTech start-ups are coming in to help by using solutions like New Data and Alternative Data. There are an estimated 2.1 to 2.5 trillion dollars of a credit gap for micro and small-medium businesses in the world. And a lot of innovations are happening around using the internet to identify, acquire and ultimately underwrite small businesses the world over. Lots of such companies are looking for ways to use New Data and partnerships to serve potential borrowers.

AML Compliance:

It’s high time, finance-based organisations comply with the Anti Money Laundering (AML) regulatory Act. Over the years, millions have been fined by the financial regulators across the globe. Although these organisations have already spent millions to curb money laundering activities, financial institutions still get in customers that are declared financial risks by nationwide or worldwide watchdogs.

Eventually, before the AML officer can track down the particular watch list or sanction list, the money would already have been laundered. Fintech courses provides a solution to this problem by conducting real-time background checks relevant to AML compliance, something that used to be a time taking process under the manual review system.

In the under-served markets like India, East Africa and Mexico; fundamental forces like mobile phones, internet penetration, cloud computing, social media are setting the grounds to access financial services. Also, the financial institutions at large incumbent financial institutions in these markets are beginning to partner with early-stage FinTech businesses to expand their access as well. Therefore it is quite an exciting time to invest and support FinTech businesses.

All You Need to Know About Fintech Technology!

Posted on by Imarticus Learning

A new generation has arisen with a bedazzling spark in the finance industry. The Fintech courses (financial technology) is the hottest trend in the finance sector. It refers to a financial sector centred with companies that use technology to make the financial system more productive.
What makes Fintech the winner?
Fintech can change the way of our banking systems by replacing hand-in-hand cash with digital currencies. Users can become rich in this transaction process. It mainly focuses on Bitcoin, Cryptocurrency, Ethereum, regtech and Dash.
We walk you through some of the advantages of using Fintech:

  1. Expanding enormously: The Fintech industry is proliferating that keeping up with it is like a struggle to the regulators. Larger institutions and governing bodies are putting their efforts and interests in this industry as it is more secure and trustworthy than the traditional banking system.
  2. More financial firms with few start-ups: The Fintech market has caught public attention. Starting with smaller finance organisations; now the number has increased with a majority of big organisations. More prominent firms are showing their interest, especially in Bitcoin facilities, as they are more money-making, profitable and have a long-run future.
  3. Change in the way of payment: The primary motive is to implant technology surgically into people’s daily lives. This has already started in a few countries where people are paying for their regular coffee by only showing their cards up to the reader. This way you won’t have to carry a wallet equipped with the massive amount and a fear of getting robbed in your mind. Just a card would replace everything!
  4. Efficiency– Fintech systems connect small systems making data sharing swift and seamless. This results in a reduction in time, and it also enhances productivity. Courtesy of Fintech systems, people can do a lot more things without requiring any assistance from traditional financial institutions.

Why is Everyone Talking about Fintech?
People are talking about Fintech because it is providing frictionless access to the tasks and has a bright future. Through its superior features, it is modernising the traditional practice of banking.
Already, the impact of Bitcoin, Litecoin, Dogecoin are visible to us. Within a year or more, these non-fiat currencies will take the lead in all the transactions.
The world of trading is running smoothly without traders. The process is known as algorithmic trading with electronic exchanges. In the coming years, humans will become the factory of producing algorithmic codes that will run the automated facilities of our daily lives.

  1. With Fintech, you can digitalise your wallet by not carrying cash. Instead, you can use your debit cards, credit cards, and gift cards. This is easier for people to keep their money safe even in crowds. There is nothing to worry if the card goes missing as the password is only with you or with your trusted ones.
  2. A better way of the transaction is via your mobile phone. The mobile payment applications are increasing, and number and users are happier with them coming to the market.
  3. It is all about smart data-sharing. If you want to split the bill, you can do it with one text message.

Conclusion
There is always a never-ending debate that questions machine intelligence over human knowledge. In this case, the future is in AI.
Like in last few years, Fintech has flourished wonderfully that dragged the majority of business into it. It focuses on technology, which has never failed to show its magic. In the coming years, we might see that transactions are possible only with a blink or just with a wave of a hand.
The trends we have talked about will be a lot of fun to watch in the coming years too. One thing is for sure, getting engaged to fintech industry won’t disappoint you.

7 Ways Fintech Can Improve Your Business!

Posted on by Imarticus Learning

Fintech has taken the financial service industry by storm. Its compelling and tangible benefits have enabled financial institutes to do more in less time and resources, and hence the latest trend in the industry is to embrace Fintech.

Through its services, Fintech has proved that it is not a bubble waiting to burst and is indeed a revolutionary concept that will result in sweeping changes in the finance sector. So, if you still haven’t joined the bandwagon and accepted Fintech, then you are missing out on a world of opportunities.

Wondering what benefits Fintech course online can bring to your business? Here we walk you through the seven ways in which your company can leverage from Fintech.

  • Seamless lending

‘Together we stand, divided we fall’, this quote holds the most in the world of business. There are times when peers need to help each other financially to survive the storm. But thanks to the complex banking systems and structure of financial institutions, it is not always possible for peers to help each other even if they wish to.

But, times have changed, and with Fintech, peer-to-peer (P2P) lending has become seamless. Fintech has removed the reliance on financial institutions and has enabled peers to lend money to each other directly.

Hence, this is the best time to look for expansion in the world of business as now you are assured of backing by your peers.

  • Making reporting and documenting a walk in the park

Record keeping is one of the daunting tasks in business. This process is hectic, time-consuming and eats productivity of your human resources.

But worry no more as Fintech brings automated reporting and documenting systems that simplify the entire process and inject efficiency and speed.

For example, an enterprise content management platform digitalizes all your data and records and makes it accessible in one go and from any source.

  • Understand customer’s creditworthiness

One of the proven strategies to win customers is to offer them credit. But it is a double-edged sword as you have to be completely assured that the customer can be trusted to pay later.

Analyzing the customer’s creditworthiness with manual checks takes plenty of time, but Fintech does this work for you in real-time. This results in better conversion rates and more profits.

  • Efficient cash flow management

Poor cash flow management is the cause of 82% of new business failures. Efficient cash flow management is integral to the success of your business and Fintech enables you to do that.

With Fintech, you can keep track of payments so that excessive payment periods, unpaid invoices and a lack of cash flow visibility do not hinder the growth of your business.

  • Precise problem identification

Traditional practices for problem identification are plagued with bureaucracy, lengthy processes and manual errors. But as Fintech deploys automated methods, problems are identified in real-time and that too with precision.
This provides your business buffer time to come up with a solution and also helps in creating accurate answers for problems.

  • Robust Intelligence

Data management is of the essence in sectors such as financial services. And Fintech is probably the best bet for managing data efficiently as it is equipped with necessary automated systems that streamline your business and bring convenience.

  • Better technological integration

In this era of the digital age, tapping into the potential of the technology is pivotal for the success of your business. Fintech offers seamless technical integration that allows you to get the best of all available technologies and expand your business.

With Fintech, you can create fast payment methods that make shopping a hassle-free process for the customer and can also perform various other tasks. Fintech courses also offer some incredible benefits in your business.
Undoubtedly, Fintech will be an essential cog of every successful business in the future.

So, if you want to survive the test of time, then you must embrace Fintech today. The aspects as mentioned earlier are just a few of Fintech’s benefits. This technology has plenty more in the store waiting for you!

Fintech Will Make You Tons Of Cash. Here’s How!

Posted on by Imarticus Learning

It is often said that, “Wealthy is a man who knows how to invest”. In today’s time, it cannot be more relevant! As many prices soar higher, we look at more ways of getting richer. It’s not just a job that can provide us the financial resources. Investing is a formidable option to make those extra bucks! Who says investing is only for the affluent? Read on and be amazed!
In today’s time, investing has gone digital. With disruptive technologies like blockchain technology, cryptocurrency is the new money mine that you may be looking for!
Fintech, a game-changer in financial transactions and services, is the umbrella of all financial technologies that carry out financial operations, seamlessly over the internet.
Thanks to blockchain technology, investing in shares online is a safe and reliable option.
The blockchain technology makes use of the concept of a chain of blocks that are made available like that of a public spreadsheet, which can be accessed from any device. The blocks are all inter-related and the chain updates itself automatically, every ten minutes. The system is very robust and transparent. It is used by BitCoin, a cryptocurrency. A ‘cryptocurrency’ is ‘encrypted’ for protection and can be thought of as value or money that we transact online.
If used well, Fintech will make you rich. Here’s how!
Fintech, short for financial technology, is a new haven for investors and venture capitalists alike.
Using financial technology that is innovative and robust helps investors keep track of their shares effectively. We now have robo-advisors that are ready to give seasoned advice on investments, using specialized, high- speed and accurate algorithms.
There are plenty of applications that help in fetching data real-time, calculating and assessing the market and its potential.  Artificial intelligence, deep learning and data analytics power fintech into a hot spot for investments.
There are potentially big opportunities that fintech courses has to offer. There are large areas untouched by it, which can create a demand in the future. As more emphasis is laid on customer experience and ease of use, the industry is poised to grow elegantly and reach as many users as possible.

 

The payment sector is ever growing and investing here is a very safe option with reliable returns. The sector is expected to grow further. One can also invest in the mobile and internet banking sector as this area has a huge potential, especially since, in many developing countries people are moving towards fintech. Yet another area swept away by the charm of fintech, is the insurance sector.
It is an always in-demand market with no potential pitfalls. Customers meet their insurance needs easily and get instant risk and crisis management advice. Not only this, but even the traditional financial institutions like the banks and willing to collaborate with the financial technology industry. So, it’s a win – win situation! Being a shareholder or having equity in early-stage start-ups is a good idea too! It’s a thriving international market. After all, you invest in ideas and talent.
Marketplace peer to peer lending is very popular these days. One can make money by lending funds in the marketplace. And plenty of companies are raising money through crowdfunding for social causes.
India is not too far in catching up with this bandwagon. Hundreds of startups and even the big companies are working towards changing the landscape of finance and giving the economy a huge impetus, at the very centre of the financial ecosystem. ‘IndiaStack’, a set of APIs provides an opportunity for both government and businesses to build tech products enabling smooth payments services.
The Unified Payments Interface (UPI), a payment system that is part of IndiaStack is used for instant fund transfer over mobiles. Even WhatsApp and TrueCaller are all set to become platforms for lending and borrowing instant money.  All this points to a rich ecosystem of financial technology investment in India. Go ahead! Happy investing!

How To Get Certified in Blockchain Technology?

Posted on by Imarticus Learning

How To Get Certified in Blockchain Technology?

Emerging tech blockchain is the star today in many industries. Due to the high demand for professionals who know blockchain, it is a good idea to get trained and certified in blockchain. A few years ago, jobs in the financial market were limited to the traditional set-ups of the organisation. You could be a banker but not a technologist. Today, the digital revolution has created an abundance of jobs of different kinds across various industries.

Programmers who are trained in artificial intelligence, machine learning and blockchain technology are in high demand. This is strictly not restricted only to tech companies. Many organisations are investing to have their employees trained in fintech as they can prepare their workforce for the future.
Blockchain has applications across industries apart from banking and fintech. Healthcare industry uses blockchain to manage patient records, similarly retail uses blockchain for supply chain management. It has revolutionized many industries and is a game changer.
So, what is blockchain? The blockchain is simply a block of transactions that are assembled in a chain. Usually, every block is a transaction, and it is validated with a time-stamp. It is near impossible to tamper with this digital ledger. It also reduces human error and leaves the data immutable.
Here are a few things you should know if you are planning to get certified in blockchain technology.
Only engineers can certify
 Emerging tech is easy to learn, and you do not need to have a qualification in engineering to pursue a course in the same. While it takes focus and discipline to do a fintech certification course, it is not impossible if you do not have a traditional engineering background. Many learning institutions offer professional certification online for blockchain, AI and machine learning without any pre-requisites.
Jobs are restricted
 Due to digitisation, every organisation irrespective of the industry has adopted blockchain. As the application of the framework is simple, it has wide benefits across administrative, logistical spaces. The blockchain is a digital ledger that keeps track of all transactions and payments. Therefore, the traditional role of a ledger and bookkeeper has now moved to those who maintain this in a bank. Job opportunities are plenty and lucrative for those who are trained in blockchain.
Blockchain is illegal
Blockchain is neither free nor illegal. Technology is the backbone of digital transactions, and thereby there is a fear that it is not secure and illegal. However, most banks today are using blockchain to maintain a decentralized database of the ledger and for applications in customer management and database management. Getting certified in one of the biggest technology trends in the world is a good idea from an employability perspective.
Today many companies are quickly adopting emerging tech such as blockchain. This creates a vast amount of opportunity for those who are skilled in managing the technology to derive insights which help businesses make strategic decisions. An ascending career trajectory is guaranteed for those who are certified professionals.

Which Courses To Take If You Are Considering Fintech as a Career Option?

Posted on by Imarticus Learning

 

Which Courses To Take If You Are Considering Fintech as a Career Option?

Fintech is the morphing of Technology and Finance. The emergence of this sector has seen a revolution in the way financial transactions are being made. Blockchain technology which spurred the growth of the fintech industry is today adopted in almost every conceivable sphere of activity. Fintech combines the offering of financial solutions through the use of innovative technology like the blockchain, IoT, AI, and AR among many others.

Fintech is truly an innovation of a disruption in startups. It has brought to us Crowdfunding, Cryptocurrencies, New-age modern banks, Money Management Tools, and Lending Services Peer-To-Peer, amongst others. With such growth obviously the sector needs people who can help it grow. Demand has gone through the roof and supply is hard to find. Yes, this means payouts and salaries are high. No wonder everyone wants to join the fintech sector. 

Consider a career in Fintech
Certification in Fintech is an excellent idea as the industry is new and demand is high. The certification validates your skills and experiences to dive into the fintech world. For earning such certification, you will need to take up a good course like the Imarticus’ Fintech Pro degree. 

The Fintech courses offer a good grasp of basics, concepts, theoretical knowledge, practical skills and certifications that could help enhance your resume and career. They also offer boot camps, short term workshops, and knowledge valuable to enter the industry. Another advantage in such a course is of mentoring by certified and experienced industry aces that helps garner the latest best practices, techniques, skills, and practice on the latest trending technologies in the Fintech industry.

While certification helps you become an excellent communicator and work diligently to acquire the best analytical and business skills. You will need a basic degree in technology, finance or Management. Besides, technical skills in DevOps, IoT, Python, Machine Learning, Big Data, and Hadoop will definitely help.

Where the jobs are:
The Fintech industry badly needs personnel in
• Blockchain Technology
• Digital Payments
• Big Data handling
• Digital Wealth Management
• Analytics Solutions

Job roles available and in demand are for: 
• Project Managers
• Data management experts
• Sales
• HR
• Financial experts in various fields like equity funding, debt capital markets etc.

Non-transferable skills will need to be developed and aligned with the enterprise’s needs. You must have the following traits.
1. Interpersonal Communication skills
2. Ability to solve problems creatively.
3. Collaborative team skills
4. Ability to work with ambiguity, pressure, and demands from the startup environment.
5. Discipline and integrity since you will be working on financial transactions.
6. A good learner as there may be no SOPs.

Payouts: Definite standards in payouts are not present as of now. However, consider the fact that it is an emerging and rapidly developing sector. Demand for personnel drives larger payouts and growth of your career. According to reports on Glassdoor, the payments are very appreciative and second to very few.

Wrapping up:

The millennial babies will find excellent demand for them in the Fintech industries as digitized payments, services and technologies ensure an undying job market in the software, analytics, Machine Learning, Financial markets and services for the Fintech industry. Be prepared. Careers never happen by chance. They result from your choice!

Top 5 trends that are influencing Fintech Sector

Posted on by Imarticus Learning

 

Blockchain is the buzz word which has been on everyone’s lips of late. So, what is blockchain and how has it reshaped different industries today? Is blockchain worth to implement?

Before fintech adoption took place in the banking industry, it was tedious and time-consuming to go to the bank for any work. Customers would fret at the thought of waiting in long queues at the bank and banks had to figure out a way to efficiently deliver superior customer experience.

Now since simple processes are automated and transactions occur daily online with no worry, a technological revolution is here, and it continues to evolve. Opportunities in fintech have grown drastically in the past decade due to artificial intelligence (AI), machine learning and blockchain, the trinity of emerging tech.

Here are the top growing trends in the fintech sector.

Blockchain

Blockchain is the foundation on which most fintech companies are built. Data management is a gigantic task for most organizations, and with blockchain, banks are able to manage large amounts of customer data and transactions in a secure manner. This also means the loan sanctions, application, and disbursement of the amount can happen instantly over the internet. Blockchain maintains a simple, centralized ledger which can be accessed by banks real-time.

Automation

Since machines now have the ability to quickly track, manage and manipulate data well, large organizations have automated most of their administrative processes. This means a significant cost reduction and optimum efficiency at all times. Once simple processes get automated due to AI and machine learning it becomes easier for banks to shift their focus on value services for higher customer experience.

Regulation and Laws in Fintech

Since all transactions are carried out remotely and online, there are hard rules and regulations that are in place to reduce financial crime. Due to the blockchain, financial institutions are able to manage their customer records well thereby reducing frauds and theft.

Digital First Bank

Back in the day, people used to visit banks for all activities and transactions. Today, you can conduct most of your transactions online in the comfort of your home. Anytime and anywhere banking is the norm. Fintech has enabled individuals’ payments anywhere, thereby the need for the physical location of banks have drastically diminished. Banks and financial institutions are also training their employees in Fintech training to ensure that they keep up with the changing dynamics of the industry

Data Lending and Data Management

Due to the advent of cloud, it is very easy to manage large amounts of structured and unstructured data on the cloud and collaborate for data management. Financial institutions are considering lending data to each other to reduce crime and evaluate credit score.

Blockchain, AI, machine learning, automation, and cloud computing have significantly impacted the Fintech industry both in terms of creation of jobs and opportunities to grow businesses. The banking institutions are relying heavily on fintech companies to reshape the way processes are carried out and drive optimization and create exponential value to customers.

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