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Tag: FinTech

What You Think You Know About Fintech and What You Need To Know?

Posted on by Imarticus Learning

Nowadays Fintech is a flourishing industry which is dispersing a new wave of technology. Yet few people never have been understood and try to know what is fintech although they are utilizing at least two fintech services!
So now by reading the above lines can you think how much you already know about fintech?

Customer demand driven advancement in the fintech part has prompted a change in how people and organizations cooperate with services of financial technology.

This can be seen by the fintech area’s hottest current trends, which incorporate an expanded push for more mobile-based administrations, the reception of artificial intelligence (AI) innovation and blockchain technology, the execution of biometric security, and a progress towards more cloud computing.

Artificial intelligence

Artificial intelligence is one of the latest technologies that is being executed by fintech India startups and in addition set up financial foundations. Progressions in AI technology have brought forth wise chat bots that can react to basic client benefit inquiries or give day in and day out budgetary help without human supervision.

AI also includes features like automated fraud detection algorithms, fully-automated financial trading and finding anti-money laundering pattern.

A PWC research found that 30 percent of substantial financial establishments are putting resources into AI. Besides, fintech new companies that concentrate on AI innovation have brought over $1 billion up in funding over the most recent two years.

Relying more on mobile

It is not so shocking that most of the customers opt applications on mobiles to deal with their personal funds as they have been stuck more to smartphones. This is unmistakably reflected in the utilization of online banking apps instead of directly visiting banks. This is encouraging mobile banking startups to capitalize more on.

In addition, consumers are not simply utilizing their mobiles to check their bank account balances and to pay bills. Payment is another zone inside fintech India that is progressing in a quick manner. In 2017, around one in four adult mobile users will use a payment app at one time a month.

Adapting the cloud

A broad range of fintech course startups is utilizing cloud computing services to both build and run their businesses As per latest Statement of the Cloud Report by RightScale, At present,  more than 96% of organizations utilize cloud computing services. Fintech startups are also devotees of the cloud and the advantages they can get from it.

Cloud computing has motivated past merely storing data on the cloud. Now, you can contract out a company’s complete IT infrastructure to cloud-based services, which can provide fintech startups with the boost they require to contend with large banking.

Biometric security

As cybersecurity is turning into an inexorably essential challenge for organizations and people, new safety measures are being executed to anchor financial data. The most unmistakable new security includes that fintech startups and recognized institutions of financial technology are betting on is biometric security.

Digital identifications via fingerprints are the initial phase in biometric security. Facial acknowledgment and voice acknowledgment utilizing smartphones is the next stage in reinforcing cybersecurity.

Allowing for the sharp increment in cybercrime and information breaks over the most recent two years, passwords and two-factor confirmation are never again viewed as sufficiently secure to ensure financial information.

Consequently, the biometric scanning is utilized by government organizations as safety measures, is a trend that will probably keep on growing in the financial technology segment.

Conclusion

All FinTech entrepreneurs appreciates new tools like artificial intelligence, connectivity, automation, block chain technology, machine learning, cryptocurrencies & alternative financing models, big mass media marketing, etc.
There is no doubt as far as anyone can say that financial technology will upset the managing a finance landscape.

Banks and other financial organizations should either incorporate a lot of these new advancements themselves or get driving fintech new companies who give these services and technologies to have the capacity to compete for the developing threat of inventive fintech new businesses that are offering new and enhanced financial services to the modern customer.

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!

JP Morgan Launches Its Own Cryptocurrency

Posted on by Imarticus Learning

Amidst all the speculations and debates about the ability of cryptocurrencies to store value, the US banking giant, JPMorgan & Chase announced the launch of their own digital currency. The “JPM Coin” is expected to conduct a tiny fraction of the bank’s $6 trillion daily transactions.
So, What is JPM Coin?
The JPM coin has been created on top of Quorum which is an enterprise-focused variant of Ethereum blockchain platform. This new”cryptocurrency” from JP Morgan Chase isn’t exactly a Cryptocurrency. It is more like a digital representation of basic banking. It can be only used to represent your money located within a Morgan Chase account. Stable coin will be a more matching description for JPM coin and it looks promising enough to spread all over other banking systems in the near future.
How does it work?
Unlike the Bitcoin and Ethereum, the value of a JPM coin is pegged to the US Dollar. So one coin will be always equal to $1. Once a customer transfers his money through the bank, the fund will be transformed into an equal number of JPM Coins. These coins will be transferred instantaneously to the recipient and he can redeem it from the bank.
Why JP Morgan and Chase are launching a Digital Coin?
In early 2018, the bank had expressed its interest in the blockchain technology and cryptocurrencies with proper control and regulation. The ability of these technologies to enable immediate value transfer and lower capital requirements have always attracted such financial firms. Most large banks in the world are now doing their research in the blockchain technology to find a cure for many woes present in the financial sector.
One of the major woe JP Morgan chase trying to solve through the JPM coin is the ageing Swift transaction networks. With this new coin, the bank will be able to provide a faster, cheaper and reliable environment for value transactions.
The Important After Effects of this Launch
JP Morgan Chase is the first major financial institutions in the US to introduce its own digital coin. It can be seen as a positive sign towards the upcoming applications of blockchain technology. By introducing JPM coin, the bank has validated the credibility and reliability of blockchain technology which will motivate other private and government institutes to adopt the technology.
The huge size of JP Morgan and Chase bank will help the rest of the world to understand more about the scalability and global adoption of the blockchain. With around 27 million accounts to serve data, the end result of this digital coin will influence the consumer blockchain adoption.
However, this facility is not yet available to the general public. According to the bank, the coin is still in its test phase. As of now, this service will be limited to a few institutional clients. With other large banks including Citi moving forward with their blockchain research, in a very near future, we can expect the more interventions from this tech into the traditional systems.

What is Bitcoin and Why is it Popular in India? – Knowledge Series

Posted on by Imarticus Learning

Bitcoin, like most of you, would be aware is a form of digital currency, it is electronically created. One will not find Bitcoins printed anywhere, they are produced by people who use complex algorithms called mining Bitcoin. Bitcoin is a cryptocurrency, and what sets it apart or adds to its popularity is that it is decentralized. Which translates into the fact that no one owns it, in other words, large banks cannot control people’s money.
The group, or person who created Bitcoin, gave themselves the alias ‘Satoshi Nakamoto’. Basically, it was created virtually to allow transactions between people who might not know each other, and people who wanted negative interference from governments and central banks.
So every coin created and its custodian can be identified by using a combination of Private-Public keys. The public key which everyone on the transaction knows identifies the coin, however, it is only the owner who knows the private key and hence can identify themselves. Bitcoins are held in digital wallets, there are many free wallets available on the internet.
What is interesting is the fact that every transaction from its origin, which means every coin from the instant of generation, is recorded in an open ledger called the Blockchain. And this ledger is regularly updated, can be checked and downloaded by anybody.
When a new transaction is made, you can use the Blockchain to check,

  1. And verify that the coin exists
  2. And that the coin is not being used by any other transaction simultaneously

Although no RBI or federal reserve guarantee the validity of the coin, it relies on the only peer to peer network.
Hence all this makes Blockchain and cryptocurrency, Bitcoin an incredible concept which is in recent times being used for multiple purposes. Although people for a long time were and still are sceptical of the process, due to the comfort of tech-savvy people accepting Bitcoin, the popularity has increased.
Bitcoin has become very popular in India; it is estimated that over 2500 Indians trade in Bitcoins on a daily basis. The popularity has increased especially after the decision of demonetisation.
Bitcoin is gaining popularity in India mainly because-

Privacy Factors

The transaction in Bitcoin can happen without sharing the details of senders and receivers, there is no need of sharing the bank account details, which is required in other transactions. Bitcoin eliminates the need for using a debit or credit card.

Borderless Transactions

Bitcoin is open to all, it does not create borders and anyone, from any corner of the world with access to the internet can get connected to the Bitcoin Network.

Decentralized Transactions

It is a two-way interaction between the sender and the receiver. No traders are required, also the online transactions of Bitcoin are majorly free from fraudulent activities, as reverse transactions are not allowed.

Minimal Transaction Fees

What you pay for international transfers over Bitcoin is minuscule as compared to other available options.

Fast Transactions

Bitcoin transfers are almost immediate as there is no third party involvement and the Bitcoin network processes the payment.
It is debated that a central authority needs to be created for regulation purposes, Bitcoin currently is enjoying growing popularity not only in India but across the globe. And on the onset, it looks like this cryptocurrency is here to stay with more people taking an interest in this form of currency and joining the network.

What Are the Advantages of Blockchain Certification?

Posted on by Imarticus Learning

It would be right to say that our digital economy has received an absolute overhaul with the blockchain technology. Mainly these transformations led to large corporations like Yahoo, Amazon, Google and many more who adapted to the technology to emerge world-leaders and changed the world from what it was and used to be.

The Emergence of Blockchains:

Cryptocurrencies actually gave rise to the concept of Blockchain technology. This technology evolved from the nerve centre of cryptocurrencies like Bitcoin, which emerged in the aftermath of the 2008 global stock-market crash and economic crisis of 2008. Though designed for financial transactions the technology has made rapid strides invading nearly every field like insurance, banks, stock-markets, healthcare, record keeping of properties and assets, real-estate segments, smart-contracts and so much more.
Presently two blockchain technologies are important in the global scenario. Namely the
1. The Bitcoin blockchain: This was devised to provide secure and transparent accounting of virtual Bitcoin currencies and made the transfer of money and trading in cryptos decentralized, secure and transparent.
2. Ethereum blockchain: This blockchain though similar to the BitCoin blockchain also provides programming logic. And hence, it overlooks the digital activities of accounts; transactions etc, as well as provide a programmable platform for its users.

The Blockchain is Revolutionary
Blockchains were termed revolutionary for the following scoring features.
• Cryptocurrencies became tradable assets.
• 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 as a third-party exists.
• Trust and records between transacting parties without the involvement of institutions and banks were welcomed.
• Data is permanently stored.
• Blockchain verification and public record verification were used to track and verify every transaction.
• Access is only through your private key.
• Use of a reliable currency exchange platform prevents hackers and ensures safe transactions.
• The receiver address is very important:
In a digital and decentralized system once you transfer to a wrong party there can be no charge-backs or support interventions.
• The possibilities of using tokens to make purchases, trade, sell or buy anything in virtual currency.
• The accompanying digital wallet has enhanced security and can be password protected.

Advantages Of Blockchain Certification

Considering the fact that this futuristic and potential bearing technology has all the tick-marks for being the technology of the future, there is sufficient reason to learn it and get blockchain certification. Some of the reasons which encourage enrollment in blockchain technology courses and also act as an advantage for getting certification in blockchain are

  • Blockchain technology infrastructure is simple and does not need varied and different kinds of infrastructure. Rather, both of these technologies use the distributed ledger technology and have an infrastructure that is universal, more advanced than the others, and still compatible with many other processes in terms of its integration and robustness. Thus this technology alters the way data is shared among various blocks.
  • The futuristic flexible technology may be quite lukewarm in terms of returns and investments in it at the present. But, at the same time, this provides the ideal platform for futuristic growth. Adapting to this technology would lead to more flexibility, new capabilities and lucrative opportunities that can be leveraged in future markets.
  • The blockchain is at disrupt. This is mainly because of the fact that it would be readily encouraging transactions to take place between two parties, without the hassle of including an intermediary. Thus leading to a lot of players in the market to hone their skills and up their game.
  • The blockchain is slowly emerging and presently confined to financial transactions at the present. Right now there are a lot of possibilities for it to branch out into various verticals and industries.

The Uses of Blockchains

Learn Blockchain Technology to leverage its awesome features in the

  • 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 enthusiast, you can avail training in blockchain technology courses to 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.

Tech Skills Required For Blockchain Certification

The skills acquired in a blockchain training course include

  • Coding skills are essential for logical interpretations and quantification.
  • Cryptography and its methods like the hash functions and a digital signature generating asynchronous cryptography.
  • The architecture of blockchains laid out in the Bitcoin whitepaper.
  • Programming languages and relational database procedural languages like OOPs, C , JavaScript, C etc.
  • Structures of Data including data structures like Stack, Merkle trees, Petrecia trees, advanced cryptography, Queues, LinkedList, Tree, Hedera HashMaps etc.
  • Smart Contract enablers like theTruffle suite installation and working on Mac, Windows and Ubuntu.
  • Platforms and frameworks likeHashGraph, 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 blockchain certification 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. Learn Blockchain Technology by doing a blockchain training course. Such courses can give your career a head-start.

The Advantages of Learning Fintech

Posted on by Imarticus Learning

In any market, when a certain industrial product or service is launched, there are a variety of reasons why it may work or may not work for the industry. This holds especially true in terms of any of the new technologies entering the market. The growth of such technological industries determines the influx of new players, some of whom may come in with a silver spoon in their mouths, basically turning everything they touch into gold, great turnovers, fabulous mergers and acquisitions and so on. At the same time, there are also a number of failures and flounders in the industry.
Also Read: Introduction to Fintech

The fintech industry is not a very new one and has been through its fair share of ups and downs. In spite of a little while of a slump in the middle, there are many ways in which the fintech industry has strived and turned its trade positive in order to come to be thriving in the present times. One of the main reason why this industry has seen more ups is that it catered not just to the big guns but also to the small business owners which included all the disadvantaged sections of the society, women, minorities and immigrants.
This industry is going to grow on and be stronger, which is why there are many experts who believe it is advantageous to get certified and get into this industry.

Here are a few reasons why we believe there are great advantages in learning Fintech;

    1. Financial technology has been criticised in the sense that it would not see a large number of growth and developments in the future. But the majority thinks otherwise. The reason that fintech is actually going to be there in the industry for a much longer time is the very fact that banks are getting digitalized and they are doing so at an alarmingly fast rate. The industry is no longer at the innovator stage and is more at an adoption stage. Thus getting certified to work in this industry will prove extremely advantageous.FinTech Banner
    2. Fintech companies or those organizations that are involved in this industry don’t really have the rules of capitalism apply to them. This is mainly because of the fact that, in capitalism, there is the chance of companies getting explosive dividends and later on also going bust. But in case of fintech whenever a void is created, there would be a number of alternative lenders to jump in to fill it up. This is the reason why the field of fintech which does not follow a ‘growth at all costs’ mentality will definitely flourish both in terms of growth and job opportunities.
    3. The world is getting digitalized on a massive scale and today no one really has any time for actually getting their transactions done from slower, larger financial corporations anymore. Technology has touched every single sphere of life including the sphere of banking. This is why learning the various nuances of fintech would be most definitely an advantage for candidates entering into this new world of technology.

The above reasons are why learning fintech is a great option for candidates looking to get into the industry today.
Related Article: What are the career opportunities in the Fintech sector in India?

Indian Fintech 5.4$ bn in 3 Years

Posted on by Imarticus Learning

It has been only around three years since the inception of the first Fintech startup in India. Since that very first day, this sector has been growing steadily. We know that in November 2016, our high-value currency notes were demonetized. Unlike many other businesses, the Fintech startups made huge benefits from this government decision. In the next three years after demonetization, a huge percentage of Indian people have adopted digital transaction. The investors have identified this opportunity and raised about $5.4 billion in equity funding. From the $593 million in 2016, there was an increase of a whopping 300% to $2.34 billion in 2018. The year witnessed 144 equity deals in the Finitech sector.
So, What are the Factors Attracting the Investors?
The Fintech service firms are literally redesigning the way the financial transactions conducted on a daily basis. When it comes to India, such a large country with over a billion people, there is a huge untapped market for Fintech startups, to begin with. The rate of mobile penetration has reached 65-75 percentage in India which is expected to hit the 90% mark by 2020. The market opportunity presented by this alone is huge enough for all the investments to make sense.
Also, it is estimated that as much as 90% of India’s small businesses are yet to link with formal financial institutes. Similarly, there are plenty of gaps between institutions and services in India which offer great scope for the Fintech solutions.
The Upcoming Years
So many reasons are pointed out by the experts for the investors to stay excited in the upcoming years.

  • The maturity of Fintech sector: The series D round of 2018 witnessed six deal in total. In 2016, there was not even a single startup to make it to the series D stage. This comparison indicates the maturity of the Indian Fintech sector.
  • The growing number of “Unicorns”: Until 2017, the Paytm was the only so-called “unicorn” company from Fintech sector. By 2019, the list of coveted companies from Fintech got longer with BillDesk, PolicyBazaar and PineLabs. Now, Fintech has the most number of “unicorn” companies beating the e-commerce sector.
  • The increased Quantum of investments: There has been a massive jump in the quantum of investments. Between 2016 and 2018, the number of series A deals grew 12.5%. But the deal size grew from $64 million to $146.8 million, a growth of 129 percentage. The growth of Series C deal size for the same period was a whopping 270%.
  • Opportunities in the Lending sector: Lending has remained to be the biggest attraction for investors in Fintech. Almost half of the equity funds were invested in startups focused on lending. With huge numbers of untouched markets lying beyond the Tier I and Tier II, lending startups have a great future in India.

With the internet connection being more accessible and government supporting the digitization of the economy, there is no doubt about the opportunities lying ahead in India for the Fintech. Hence, the large investments made in this sector are clearly no wonder and it will probably continue for the next few years.

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!

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 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.