Vol. 11 No. 1 (2019): Accelerating Financial Inclusion through Block Chain

FinTech’ is an appearance debatably coined in the mid-1980s. If you come across at the historic times it has relations since 1800 century. Between 1856-1966 finance and technology came reciprocally as an outcome first analogue financial technology was created. For the first two decades of use, perspicacity is FinTech was primary and principal employed to portray “Backend” banking technologies. It was assumed as vehemently linked & coupled to back-office operations. Financial inclusion is the gratification of making financial services reachable at sensibly priced costs to all folks and trade, in spite of net worth and dimension equally. Financial inclusion strives to contemplate on and unpaid assistant solutions to the self-control that exclude people from participating in the financial sector and also called wide-ranging financing. In early 2000 the first digital bank was make out as almost all financial services institution participated in this game. Global financial crises of 2008 gave remarkable challenges to the traditional method of banking i.e. only via bank thus self-governing FinTech startups got into the portrait. 2014 was the year of every day new FinTech startup. This is when we saw just about every big player, particularly from non-financial services background, jumped into the FinTech market. 2018 was a banner year for FinTech with key drivers of FinTech growth built-in record levels of deals and financing, the appearance of new global tech hubs, and favorable regulatory tailwinds. The combination of these factors positions the FinTech sector to further digitize the customer journey, make inroads in new and adjacent markets, and collaborate across the industry in 2019.The 2019 also going to answer the how in trends we’re anticipating can facilitate to lecture to several questions, such as: How is artificial intelligence (AI) helping banks comply with new regulation?; What does Open Banking mean for consumers and what markets could it spread tonext?; Why are SMBs the next battleground for FinTech?

Published: 2019-12-05

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