Fintech 101
Current trends indicate Financial and Tech firms are flocking to Miami. That could mean significant opportunities for you and your business. For example: the co-founder of PayPal, Bill Harris, announced he is “building a new fintech in Miami’---a digital consumer financial services. Fintech is the latest buzz and markets across the global such as China, Africa, India have lead the charge. Simply stated: Fintech impacts everything that involves money from payment to banking. The primary requirement for being a fintech company is using technology to improve the speed, accuracy, and efficiency of financial transactions.
According to Business Insider intelligence:
What does this mean for your business?
Fintech applications facilitate money transfers quicker, more reliable, and more cost-effective than traditional banking. If you’re paying rent or a mortgage, disbursing payroll to employees, compensating vendors, or managing assets, you’re likely using fintech applications.
If you have a small or medium sized businesses, consider this.
Look at ways to reduce transaction processing costs.
Lower your banking costs by utilizing non-traditional banking services.
Increase your revenue by enabling convenient payment options.
Global companies could significantly boost their bottom line simply by considering this.
Increase productivity, save time and get more done by reducing overhead and headcount.
Implement _fintech solutions to streamline your procurement process. Optimizing your transactions with vendors can potentially save you millions of dollars.
Give your customers options with fast and convenient payment options.
The key is finding ways to integrate this technology into your business application (i.e. financial software, etc.). Fintech products should be part of your strategy to streamline your operations and create significant savings in time and cost.
The explosion of online sales is creating new opportunities for you right now. You don't have to have a million dollars to get in the game. Make Fintech part of your strategy so it works for you and you’ll be able to seize some of these opportunities moving to the Miami market today.
If you’re reading this, wondering how you can take advantage of these South Florida trends, give us a call. Don’t let new technology feel daunting. Change equals opportunity. Fintech is just another tool to help you recognize more profits. We’re feeling optimistic and hope you are, also.
Consort Solutions Group can help you navigate the many products on the market to help you determine what product(s) is right for your business. Contact us for more information www.consortsolutionsglobal.com.