The fintech industry is driving innovation in the financial industry and is eliminating many problems associated with traditional brick and mortar financial systems as it is allowing for storage and monitoring of assets easily at the pressing of a finger.
Carrying physical cash in a wallet or storing it as a fixed asset exposes it to many problems such as physical cash depreciation either in face value or intrinsic value. Also the complexity and security of moving physical cash over long distances has been solved with digital financing and the fintech industry . Electronic based transactions re allowing businesses to monitor their transactions at the click of a button and is creating a system where cash can be traced and accounted for more accurately in cases of disputes associated with fraud ,banker inner circle fraud and also investment fraud.
The fintech industry is also creating an opportunity for consumer spending to increase. In some sectors such as food, housing, and financial services, consumers are expected to spend more in 2021 than they did in 2020. Consumer spending is a key driving force in the economy , the fintech industry is creating opportunities for digital banking assets and fintech industries to offer consumers new spending opportunities globally which is recirculating wealth and creating more block chain opportunities .
The fintech industry is also helping bankers improve customer relationship through digital banking relationship tools which invariably contributes to the general well being of the customer and improve relationships with the general economy.
The fintech industry should also create a financial repository for an Einstein health relativity series discussion about the old and new health perogatives for preventive, curative and surety health protocols which could be security protocols.
The fintech industry is also going to witness a creation of a new legal perspective or legal financial descandorium which seemingly literary means legal promissory terms, documents,legal innuendos and moolahs that will create new perspectives to the law process for settling disputes and making it financially premissory .
Customized Financial Perspectives can be prepared by consultants to give a better perspective on the possible financial options businesses, organisations and corporations can explore.
The challenge for the fintech industry is the over proliferation of fintech solutions and the impending security challenges such as Third-party security risks , Malware Attacks, Data Breaches , money Laundering Risk. and Digital Identity Risks.
These challenges and risks are also creating new industries and also new opportunities in the fintech industry. How do we create a perfect fintech ecosystem . A financial ecosystem will create a community of living organisms meaning humans which will live in in conjunction with the nonliving components of their environment, interacting as a system. A financial ecosystem for the transportation system mediums and also a financial system for aggregated citizen responsibility and crowd reporting for incidences.
The financial ecosystem will be an ecosystem that combines and unites startups; government; traditional financial institutions; financial customers; and technology developers. A well-developed ecosystem can stimulate the local. economy and generate opportunities for growth in al sectors of the economy from construction to consumer credit, health and also manufacturing .
Most fintech systems don't have a well planned ecosystem that transverses the norm, there is a grand intelligent design that every new innovation tries to mimic , the almighty sacred geometry ecosystem of nature that is divinely intelligent and poised to last for a very long time has not been intelligently mimicked to create a very sustainable ecosystem like the financial system .
Can we say that the brick and mortar banking finance system is disjointed . Is the new fintech industry going to be an intelligent ecosystem design that will solve poverty, unequal distribution of resources and solve the various problems in the world.
There are many fintech companies in the world who are setting the pace , fintechs like : and who are aggregating a category of a particular demograph and providing financial solutions and services to the. We have fintech companies that are allowing their customers to make financial investments in automation. Then we have fintech companies like : who are helping make their customers make financial investments in intelligent natural ecosystems that are aiding the environment which should be categorically emphasized as the future of sustainable finance or environmental finance which will be financial activity aiming to protect environment, and connect the financial industry to very intelligent ecosystems mimicking the natural plant and natural growth of algae, plants, phytoplankton etc
We may be witnessing also an over proliferation of competitive financial and investment products and services. Financial Management issues concerning over and underutilization of the financial assets of your institution or company.
Revenue decline as a result in the drop in prices of commodity products and foreign exchange earnings. Non utilization of assets , both living and non living . These financial deficiencies and problems being faced by companies, ngos, trusts, government institutions, secret societies, cartels, etc need to be addressed and there may have a basic introductory solution to assess the problem and provide a basic introductory solution to the problem which we call The Explificit Solution which can be accessed here .
Various financial advisory solutions from different players are required in collaboration that will be implemented in phases and both short and long term strategies which are intelligently and taxonomically placed to be in alignment with the divine ratio to create a very synchronized system that will not create competition amongst various systems so as not to create enmity amongst territories, clans, segments and various groups with diverse and also mutual interests.
Get a video consultation on Zoom about your business where we help analyze new business models to explore in an economy where cash is not circulating and the possibility of adapting new business models : Access it here
Bibliography "Digital Banking " Banca MPS. n.p., 1 Mar. 0895.Web. 1 Mar. 2021.
Google Search Results "Digital banking " Wikipedia. n.p., 1 Mar. 2693.Web. 1 Mar. 2021.
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