Fintech is an incomprehensible area for many people, but close at the same time. FinTech means financial technologies. This term refers to any innovation in the field of financial services. In other words, everything that makes our relationship with money (and the services we get for it!) easier, faster, more reliable and cheaper is from the field of fintech.
What is fintech and how to find a good solution for your company. Explaining in simple words
Fintech is also called an industry where companies use new solutions and technologies to compete with traditional financial institutions for clients.
WHY FINTECH COMPANIES ARE SO ATTRACTIVE
Convenience and time saving. Mobile applications of classic banks are often either limited in functionality and you have to go to a branch, or it is difficult to understand due to a confusing interface. Online platforms prioritize customer convenience.
For example, Collect & Pay opens accounts remotely in the shortest time if you have all the necessary documents.
Favorable rates. Large banks often offer favorable conditions for new clients for a limited period of time.
At Collect & Pay, customers go through the KYC checking program, which determines the category and rates for transactions. We are providing the best rates to our customers compared to other payment institutions.
Flexibility. In addition to conventional banking services, fintech provides services for the automatic analysis of account movements and at the same time offers personalized financial solutions to their users.
Collect & Pay offers an automatic tailor-made platform, so any user can use it without any issues. If any questions arise, your dedicated manager will always be able to instruct you and solve any problem.
24/7 support. Today, traditional banks offer both live operator support and chatbots. But bots are not yet sufficiently developed – they do not consider the client’s context, they are similar to reference books and provide only general information.
The Collect & Pay team includes highly qualified specialists who will provide you with all the information and go through the entire stage of registration and service at the highest level.
Manufacturability. Customers’ needs are changing, they want everything to be fast and easy. Classic banks do not keep pace with the changes, since the bank itself is a bureaucratic and conservative structure. It is difficult for them to build such a process when creativity will be transformed into real products and technologies.
Most companies now operate on the Internet and use applications and programs quite often. Collect & Pay has a simple platform for working with finances and a dedicated person will educate you in case of any questions.
THE FUTURE BELONGS TO US
Traditional banks will now be forced to compete not only with each other, but also with fintech companies and neobanks, which are not burdened with bloated staff and capital costs, and therefore are able to quickly increase their market share.
Fintech is attractive because it can quickly and with minimal effort on the part of the user solve his problems and needs. This could not be overlooked by giant companies such as Google, Apple, Amazon and Facebook. They also added financial services to the list of basic services: online wallets, sending money in a messenger, and so on. So they turned into tech companies. Consumers who have grown up with digital devices in their hands will actively use products from tech companies and fintech startups. Companies and financial institutions that are just eyeing fintech tools will have to accelerate their adoption in the pursuit of profit and customer sympathy. Both will need people who can create and implement products and changes to win customer acceptance.
Fintech companies need to look for new ways to differentiate themselves from others. Our company set a very cool example. We at Collect & Pay provide our clients with cash flow management, collection and payment services.
Open an account on our platform and you’ll not regret it! – [email protected]
Disclaimer : This financial promotion is intended for retail clients. Please note that this information is of a general nature only and is not intended to address the specific circumstances of any particular entity. Also please be aware that this information is not necessarily comprehensive, complete, accurate or up to date. Collect & Pay is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information published by Collect & Pay relates to your unique circumstances. Licence #AFSA-G-LA-2020-0005 with expiry date of 23.04.2022. Please learn more about the regulatory status of Collect & Pay : www.collectnpay.com.