Financial Technology

Future of FinTech

This is the field of computer technology where it intersects with the financial world. This is an essential aspect of education that some students are getting involved in by majoring in FinTech in their chosen college or institution. 

Even if you don’t major in it, it is definitely a field that is influencing all of our lives and offers a number of helpful resources that make life better and easier to manage. 

The field of Financial Technology is growing immensely in the midst of a banking revolution that is destined to take place over the next few years. Banking needs the expertise of the technology world because the types of currency, ways that people get loans, and credit processes are likely to be done from smartphones and tablets shortly rather than having to walk into a lending institution or brick-and-mortar bank.

Financial technology means more mobility and portability of banking and financial services and a greater ability to utilize several different resources all using apps in one’s smartphone.

This is going to require more streamlining of the process of banking and skilled app developers who know how to program the banking capabilities within the mobile applications for multiple devices and platforms.

Companies such as Amazon and Facebook have even stated that they may offer student loans shortly so that you could go through the big tech companies rather than traditional banks to get student loans. This is not in place yet but look for this possibility soon as more banks turn to big tech for answers they are unable to provide with financial expertise alone. 

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