Where Has Fintech Made Impact?

WHERE HAS FINTECH MADE IMPACT?

RAZI SALIH

WHERE HAS FINTECH MADE IMPACT? The amount of money spent on technology – from consumers purchasing mobile devices, to mergers and acquisitions (M&A) within the technology sector – is in the trillions.

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his money is not just invested in business but also in the fintech (financial technology) ecosystem, where start-ups and companies continue to attract huge investments. The growth witnessed is unprecedented, leading to changes in various aspects of the landscape.

Payments The payments sector has seen consistently high levels of investment and innovation, offering payment solutions to a sector of the population that was previously ‘unbanked’.

Fintech solutions such as M-Pesa in Kenya, for example, have significantly lowered the number of people without access to banks or mobile money providers.

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ACCORDING TO BBVA, A TOTAL OF $1.4 BILLION WAS INVESTED IN PROPTECH IN 2018.

Cybersecurity The increased use of digital applications and solutions brings up the aspect of cybersecurity, which investors, companies and individuals are more aware of in the modern world. There is an increased demand for safeguards against fraud and external threats to digital services.

Proptech Proptech refers to the use of technology in the purchase, renting and selling of property.

It’s a growing sector that holds the promise of opportunities for both the residential and commercial real estate industries. According to BBVA, a total of $1.4 billion was invested in proptech in 2018.

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