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Tag: FinTech

What Are Blockchain Technologies?

Posted on by Imarticus Learning

What Are Blockchain Technologies?

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

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

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

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.

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

Posted on by Imarticus Learning

 

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

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

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

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

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

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

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

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

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

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

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

How did Fintech do in 2018 in India?

Posted on by Imarticus Learning

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

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

  • The banning of Cryptocurrencies

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

  • The Growth in Mobile Wallets

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

  • Increase in Online Lending Platforms

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

  • Collaborations between traditional banks and Fintech companies

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

Are Fintechs Really An Enabler For The Traditional Banks

Posted on by Imarticus Learning

Fintech or Financial Technologies is the new branch of technology that aims to improve and automate the delivery of financial services. In the beginning, Fintech was employed for the back-end applications of the financial institutes.

But, since then, the technology has taken a diversion towards the consumer-oriented services. Fintech is expected to change the face of the banking sector in the next two decades. Whenever a new technology is introduced, a battle for the market domain is typical between the old guards and new entrants. The story is not different for Fintech.

So many organisations are out there with an opinion that Fintech is going to make a negative impact on the traditional banking services. This article discusses how the Fintech is going to act as an enabler to the traditional banks rather than being a challenge.

The Technological Challenges: Past and Present

In the past, the financial institution has proven to be slow towards the innovation. Yet, showing great resilience towards the challenges in the past. More than 450 attackers such as digital currencies, networks, wallets etc. attempted to challenge the traditional institutes in earlier days. Fewer than 5 of them have survived to the date. Other than PayPal no one has really disrupted the banks.

But the time has changed. The modern markets and new generation banking customers are promoting the new age financial services. Various reports are suggesting that millennials are more faithful towards the Fintech companies than the traditional banks. The expectations of customers are on the rise, and it is favouring the Fintech companies. With the evolution of the digital economy, the rise is expected to continue.

In short, the transformative forces are seemingly unstoppable with the current social environments. The traditional banks need to elevate their digital experience to survive. However, a complete one-on-one competition between traditional banks and Fintech companies is not going to take place.

The Collaboration

The progress brought by the Fintech companies presents large opportunities for the traditional banking institutes. Rather than disrupting each other, a collaborative movement can benefit both banks and Fintech companies. Following are the few important ways how Fintech can be used to improve the banking services.

Reduced operational costs – The efficiency of staff and other elements can be increased through Fintech thereby reducing the operating cost.

Expansion – The limitations of the legacy systems can be overcome through the Fintech. This competitive advantage can be used to expand the organisation into foreign markets and new customer segments.

Revenue Growth – The Fintech can be used to scale the less capital-intensive business such as insurance and wealth management.

The Fintech also needs these collaborations to succeed. The regulatory challenges and difficulties with scaling the customer base are a great barrier for Fintech companies to overcome. Many researchers believe a “better together” policy is going to profit both players rather than a stealing business strategy.

Clearly, the young generation of banking customers is in need of a better digital experience. It has led the traditional banks to collaborate with these Fintech companies. With banking giants recognizing the potential of this new branch of technology, the demand for well-equipped experts is expected to reach new heights. You can prepare for this lucrative opportunity ahead through various Fintech courses available.

Are Fintechs Really An Enabler For The Traditional Banks

Posted on by Imarticus Learning

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

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

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

How to Start a Career in the Blockchain?

Posted on by Imarticus Learning

In the past three years, blockchain has presented itself as the next generation solution for many of the problems faced by the tech world. Recognising its potential, various governments and industry titans have provided powerful endorsement to this technology. Blockchain was developed as an underlying technology for cryptocurrencies, and right now it is being adapted to a large number of industries.
Health care, financial technology, real estate, supply chain, logistics and education are a few sectors who are adopting this technology to make an improvement. With demand for blockchain rising day by day, the career opportunities are also looking very bright. The TechCrunch report suggests that there are 14 job opening for each blockchain developer. So, how do we prepare for this huge opportunity lying ahead? We will discuss in this article.

Education in the Blockchain Technology

Since the blockchain is still in its early stage of development, the career path in this technology is going to be very different from others. With blockchain continuously evolving, you will have to improve your skills regularly. The following steps will help you start a good career in the blockchain.
Understanding The Basic Concepts

The understanding of its unique value proposition is the basic building block of blockchain education. Features such as decentralisation, smart contracts and Dapps are not just buzzwords. They are the elements of the blockchain. An intimate understanding of these features is necessary for a successful career in the blockchain. Technical skills such as JavaScript for website development and Solidity for the development of smart contract can be beneficial to excel in Fintech career.
Some Cryptography Lessons
Cryptography has been picking up popularity with more and more assets moving online. Blockchain’s ability to protect and secure online assets is primarily a function of cryptography. Organisations are seeking skilled cryptographers to upscale their cybersecurity. A high-level Cryptography course from any reputed online sources will equip you with the necessary skills for this.

Distributing Computing Theory And Its Applications

With reliability and security emerging as most pressing worries, distributed computing is the solution offered by blockchain. Even though the applications are limitless, the technology is not yet ready for commercial use. The deployment of this tech is delayed by the excessive energy consumption of these systems and so many other issues such as scalability. But, as a student of blockchain technology, you will have to understand this technology and develop solutions for its successful implementation.

Reach Out the Blockchain Community

There are hundreds of cryptocurrency projects happening around. You can use them as an on-job-training mechanism. Reach out to some reputable, verifiable start-ups and provide your service and intake the valuable lessons from these experiences. Starting this way will give you the leverage of both work experience and networking with the right people from the industry.

Make Your Own Path

The blockchain job market offers a huge amount of opportunities, with a proper skillset and attitude anyone can make use of it. Rather than investing years at an academic institute, the DIY steps above will help you find a prominent position in the ongoing blockchain revolution.

The Billion-Dollar Friction Problem Fintech Could Solve

Posted on by Imarticus Learning

Fintech has seen massive growth over the last few years, and a lot of companies have begun seeing its benefits. It helps in cutting down costs and even making processes faster. One telling aspect is that Fintech has helped solve problems that are at the lower end of the spectrum. Smaller businesses are benefiting the most, and this has helped bridge the gap between the two and make smaller businesses more positive.
There needs to be interoperability between the supply chain ecosystem and the software being used. Here are just some of the friction problems that fintech courses could help solve.

Accounts Meeting Crypto

E-invoicing for fintech start-ups is simple, but the future looks bright with better strategies that are centred on capital management.
One of the biggest pain points for businesses is their working capital. The rise in fintech operations in the invoicing space is largely attributed to help manage working capital better. There are opportunities available that could eliminate the need for financing in general or even complement this service
Dynamic discounting is generally accepted as accounts receivable to speed up payments and make it easier. If accounts payable could look into alternative currency to find cheaper instruments, discounts could be locked either way.
Many two-sided e-invoicing companies would begin developing their own version of concurrency. In a world where trade is globalized, transacting without the need for currency conversion is always an attractive offer. Network accepted currency would end up becoming advantageous and help complete settlements much faster.

Other Problems It Can Solve

The supplier invoice in the future of the fintech industry could feature an option to pay with the help of an e-invoicing token for accounts payable. This would also add a discount in addition to the early payments through fiat currencies. Fiat currencies could still have to go through the dark alleys of back-end infrastructure that banks generally have and would require transactional fees on the way as well.
Also, imagining a world where a bot does all the work such as optimising and reporting daily accounts isn’t unthinkable. You can manage payments through a mix of tokens for networks along with fiat currencies that were previously in hand. While the same technology is available today, a smarter version of it doesn’t exist yet. If you could use the same to solve this issue, it could be highly beneficial and solve a large slew of issues.
Also get know more about the Fintech (Financial Technology), through just a single click: https://imarticus.org/Professional-Certificate-Course-FinTech/

Do Online Fintech Courses Help With Entering The Industry?

Posted on by Imarticus Learning

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

What’s The Advantage Of Fintech Courses?

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

How To Begin?

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

Studying Fintech or Digital Marketing (DM)

Posted on by Imarticus Learning

Technology had infiltrated almost every aspect of our lives in the past couple of decades and has transformed our lives in many good ways. Fintech or Financial technology is one such aspect of this technological aspect. With many large corporations getting into the M&A phase in the Fintech landscape a lot of investment has taken place and hence in growth can be seen in various business sectors like banking, investment, lending and so on. Reports say that globally, the FinTech market is all set to be worth over $200 billion by the year 2021. Thus it can safely be said that FinTech is fast becoming one of the most attractive industries for graduates to work in.

Benefits of Studying Fintech

The best part of studying Fintech is that one need not be tech savvy or have a huge knowledge of the financial market to master this discipline. One can be a graduate from various disciplines including Law, English, Psychology and even foreign languages and still be a part of a fintech workspace.
Fintech is currently at the forefront of innovation, and the main aim of companies with the fintech space is to change how the traditional finance industry works. The fintech world has an innovative spirit and being a part of fintech courses would finally help one to be in a fast paced and productive work environment. Studying fintech would also mean that one can be a pro at using some of the most cutting edge technologies making him/her more competent for the job front.
Working in the fintech workspace is also rewarding as fintech businesses operate in a flat organisational structure thus reducing bureaucracy and red tape as compared to what we find in traditional finance companies. Also if one is a high performer fintech startup would wholeheartedly reward him/her thus helping is rapid career growth.

Leveraging DM in Fintech

With marketing being extremely important to further one’s business a course in Digital Marketing is most definitely going to be handy if one is keen to work in the fintech landscape.
Since fintech is a fairly new industry, one very effective way to further the fintech business is through mobile marketing. A recent ICBA survey (2016) stated that for 74% of its respondent’s mobile banking was extremely important. It also stated that 53% of smartphone owners are comfortable using mobile banking. With these statistics in mind, it would be safe to conclude that mobile marketing would positively impact the growth of the fintech industry.
Using proper content through the DM platform can be another great way to achieve success. As a fintech brand, one must always provide in-depth information, be ready to answers all questions, set up informative webinars and use great content to set up the tone of the brand. Also, make sure that the content is scalable, customization and reactive!
Lastly, once the communication has been made and a client base is in place, one must keep in constant touch with their clientele through newsletter, events and emails. Communication is the key to success, and for an upcoming business like fintech, communication is the most important.
So, is being a part of an industry that truly revolutionary appeals to you? Then a degree in FinTech and a good understanding of DM can take you.
For more details, you directly browse: https://imarticus.org/