With over $6.8 billion invested in the fintech industry in the first half of 2017 alone, it’s clear that there’s a global passion for ‘disruptive technology’. Traditional financial services are being shaken up from almost every angle – but what’s going on behind the scenes and what’s in store for 2018? Let’s delve deeper.
Fintech: An Unstoppable Force
As a tidal wave of technology-related innovation sweeps over the financial industry it seems the only way to keep your head above water is to grab a board and surf. Fintech companies – described by The Economist as “new entrants that use internet-based and mobile technologies to create new or superior banking products” – are becoming an unstoppable force revolutionising the way we handle our finances on a daily basis.
Both start-ups and large tech firms such as Google and Apple are paving the way for an even more exciting, educational, forward-thinking and astounding future with 2018 set to be the year of the fintech brand.
No Time to Blink: Named Successes
With technology moving at a rapid rate, there’s barely time to blink. Online banking services with lower costs and greater speed have become a normal part of daily life and the problem of getting money across borders has been largely resolved with currency exchange being a part of many fintech services. The development of mobile technology for finance-related tasks has come on leaps and bounds and you can even borrow online.
Named successes will continue to grow throughout the coming year having received a great amount of funding in 2017. Indeed, the top three global fintech deals came from the US and China with SoFi raising the largest round globally at $453 million. SoFi is a fintech company providing personal loans at higher balances and lower rates. How? By doing business online they can reduce costs and therefore pass these savings onto customers.
Chinese companies AvidXchange and E-Life Financial came second and third, raising $300 million and $275 million respectively. While AvidXchange focusses on automated AP solutions, accounting software and bill pay services, E-Life Financial serves as the financial and payment arm for HNA Tourism, offering a complete end-to-end service and payment system in the tourism industry.
Fintech: A Much-Needed Disruption
One of the main questions circulating of late is whether fintech is ‘disruptive innovation’ or ‘healthy competition.’ The fact of the matter is that change is part of life. Things don’t stay the same for long and with fintech challenging traditional banking solutions, it’s only normal for there to be a certain amount of trepidation and apprehension.
That said; the finance industry is ready for a makeover. Of course, fintech isn’t a new concept. The likes of PayPal was founded back in 1998, but as more companies get wind of the fintech phenomenon and connectivity surges, digital financial services are becoming increasingly necessary. In fact, they’re becoming more than necessary; they’ve become a trend in their own right.
Just as fashion changes from month to month, the finance world also likes to spice things up with new and interesting ideas. Take cryptocurrencies, for instance. What first seemed like a fad has become mainstream news with investors making a fortune from digital coins such as Bitcoin. And how are these traded? Via blockchain! None of this would be possible without the combination of both finance and technology.
On a similar note, Initial Coin Offerings known as ICOs are popping up left, right and centre to help get new cryptocurrencies off the ground. Importantly, ICOs are contributing to fintech-related marketing and are helping to spread the word about what’s going on within the finance sphere.
TradeSocio’s Alpha Suite: Embracing Innovation
So, we’ve established that times are changing. We’ve confirmed the need for new, up-to-date technology. Traditional financial institutions are even embracing fintech concepts as they work out how to deliver traditional services in a faster, more up-to-date way – so how do TradeSocio fit into this evolving web of high-speed financial developments?
Well, our state-of-the art Alpha Suite embraces innovation making it easy for ordinary people to access high-quality funds. Essentially, Alpha 2017 builds an online investment community comprised of investors, fund managers, brokers, investment banks and business introducers helping to streamline and simplify the entire investment process for all stakeholders. Participants have access to tools they need to meet investment targets.
TradeSocio’s Alpha Suite is comprised of:
Alpha Investor – an end-user platform designed to maximise investment returns
Alpha Funds – high-tech and intuitive solution for fund managers and traders
Alpha Business – full investment solution for businesses looking to create a private, banded investment community
Alpha Broker – a full investment solution for brokerages
The four elements of the suite create a financial ecosystem that enhances each participant’s abilities to invest, grow their business and diversify their activity. It is also helping brokers develop more competitive options for on-boarding clients and increasing sales. It’s the kind of win-win environment that is only possible with the most-polished advances in fintech.
As Alpha Suite is a digital platform it also has global appeal and TradeSocio will be continuing a world tour throughout 2018 in a bid to showcase the intuitive, easy-to-use and innovative concepts behind this unique trading experience. You can catch the TradeSocio team at the upcoming IFX Asia Expo in the New Year with a tour of South Africa, the Middle East, Indonesia and Australia in the pipelines.
If you’re interested in the TradeSocio platform, contact us today for an Alpha Suite Demo.