ICOs fuel Expansion of Fintech Companies

Posted on 2019-09-30 by Mark Hub in Industrial, Retail // 0 Comments

Albany, US, 2019-Sep-30 — /EPR Network/ —Fintech has evolved as one of the cost-effective, innovative and delivery efficient disruptive technologies. Industry participants and financial companies that exploit technology to deliver best possible outcome can be regarded as fintech, regardless of their size, portfolio and business model. E-banking and related developments such as electronic payment system form a part of fintech and are contribution of new internet era.

Consumer interface as competitive edge

Finance and investment, payments and infrastructure, consumer interface, internal financial operations and risk management, and data security and monetization are the major segments of Fintech. Growing espionage and cybercrime in the digitized world is major concern for government as it makes the financial industry vulnerable to third party invasion and corruption. Consumer interface is perceived as differentiating and consumer accumulating component that enables Company with better consumer interface to acquire a competitive edge.

Developments in encryption and cryptography have disrupted traditional service delivery methods, where the former secures private data for financial companies and the latter forms backbone for virtual currencies, a block chain based system. The Payment Card Industry Security (PCSS) directs that the protection of card payment data should be secured by encryption. Cryptography secures transaction information and protects transacting identities.

Cryptocurrency mechanisms such as Initial Coin Offerings (ICOs) and Blockchain have revived the global fintech market taking in account the fact that ICOs are an innovative way adopted by fintech companies to raise capital and expand.

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Finger print scanning encourages biometric data theft

Financial stakeholders, technical companies and regulators go through rigorous consultation process, handing out regulations for Fintech companies and new technologies dealing with it. However, new Fintech players have emerged without complying with the set regulations. Finger print scanning, used lately in Fintech has issues related to biometric data theft surrounding it.

Fintech market: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the fintech market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the fintech market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on fintech.

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Fintech market: Research Methodology

Primary sources and secondary sources propel intelligence report on fintech market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.

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