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Showing posts with label fintech 2017. Show all posts
Showing posts with label fintech 2017. Show all posts
New Year Resolutions for Fintech for 2017
The year 2017 will play an important role in the growth of
Fintech. Some of the resolutions which will drive growth in this area are:
Address security concerns
& strengthen backend infrastructure – both in the transaction as well
as the platform. Businesses involving online transfers of money such as
e-payments, online money transfers and crowdfunding carry the most risk.
Scale to compete with
incumbents – scale will lead to economies which will further drive
competitiveness.
Adhere to new
regulation – with the rise of Fintech, regulators are becoming active in
order to stay ahead of the curve. Fintech startups must find the right balance
between providing a value-added service and adhering to regulation.
Build a profitable
business model – building a profitable business is a necessity as it is not
possible to forceful tactics to drive incumbents out of the market.
Enhance customer
experience by ensuring promises are delivered – to get a foot into this
space, a very high standard of service is required.
Enhanced
usage of the blockchain –
the advantages of a distributed ledger must be utilized as a tool to deliver
enhanced value and build differentiation.
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