Financial technology is the use of technology in a financial system that produces new business products, services, and technology which is possible to impact on financial system stability, security, monetary stability, and reliability of payment systems. The development of financial technology on the one hand has proven to bring benefits to consumers, business people and the national economy, but on the other hand it has the potential risk that if it is not properly mitigated it can disrupt the financial system.
Along with increasingly sophisticated technological advances, there have been many new breakthroughs to solve financial problems and also support the needs of society in general.
For example, lately online transactions have become a very popular phenomenon. The existence of linkages with technology makes the financial sector more developed.
With the development of this financial technology (FinTech), it is better if you know more about what FinTech is and what its uses are.
This is a new breakthrough for those of you who are looking for loans that are easily accessible through an online portal under the supervision of the Financial Services Authority so as to provide their own comfort and security. With this online loan service, it can certainly benefit you more, especially for business people when they need loan capital.
For those of you who need a tool to be a personal advisor in managing finances, then you don’t need to worry anymore because there are many startups or sites that offer this function. With the advancement of financial technology, you can now do financial planning, especially for business people, more easily. You can do this with internet facilities (online) without having to travel longer distances.
Online Payment Facility
With the advancement of financial technology, now you no longer need to bring cash where. True, you only need a card (credit card) that can be used as a payment instrument. About this electronic payment system, of course, will provide you more security than having to bring cash. Why is that? For example, when on the road your wallet suddenly falls and you don’t realize it, you only need to contact your credit card provider to block your credit card, then you only need to create a new credit card. Unlike the case if you bring cash in the wallet, if your wallet falls and is lost, then you will lose your money.
This applies to all parties, either business people, consumers, and the government. For business people, you are required to have your business bookkeeping, and the role of FinTech is for the transparency of the bookkeeping. That way, you as a businessman, consumer, and government will be safer from fraud with this transparency.
And there are some reviews of financial technology, hopefully by reading some of the reviews above can provide additional knowledge for you.