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We explain why the use of financial technology tools is more necessary than ever in small, medium and large companies, as well as in businesses of any sector.
Since their birth, financial technology tools - known as fintech - have revolutionized the business world. According to the startup Toptal, the success of the fintech industry is reflected in its annual growth (25%) and the consulting firm Mordor Intelligence has published that the most important Asian markets have high adoption rates (around 67%) of these technologies.
The growth and consolidation of fintech tools is a resounding fact. Their penetration in the market is also a logical consequence in our times: it is enough to know that, as Millennial Fintech App Statistic assures, 64% of millennials (the generation that today is in charge of many new businesses) have fully adopted them; in contrast, only 41% of the boomer generation has dared to try them.
The direction of financial technologies
Today, fintech tools are undergoing a period of diversification. These products were created for a very specific market niche (financial companies), but today they have become a necessity for all types of businesses. These are five of the reasons why financial and non-financial companies are adopting them as an indispensable resource in their operations.
1 They help facilitate processes. Thanks to the automation offered by fintech tools, businesses can focus their team's energy on other important tasks. Automation also reduces margins of error and decreases the team's time investment.
2 They are easy to use. Fintech tools have several resources to train business staff in their use quickly and easily. Some of them are, for example, API documentation, comprehensive and easy-to-understand Knowledge Centers, video tutorials, consultancies, onboarding sessions and constant attention from your Customer Success teams.
3 They give you independence. One of the main advantages of using tools is that businesses do not depend on the services of another company in order to advance their tasks or processes. The tools are designed so that your teams can use them and execute them at any time of the day without the need for a third party to intervene.
4 You can be more secure. By working with tools designed by companies with experience and prestige in the fintech sector, you get the backing of their track record in handling sensitive data and information security.
5 Represents lower costs. Businesses save by not having to develop their own tool or hire a company to provide a service. The tools are a useful and effective resource that undoubtedly represents a lower cost. Today, fintech tools are no longer inaccessible. Fintech tool platforms such as kiban cloud offer executions at a cost as low as $0.005, as well as various payment plans that adapt to the needs of businesses of all sizes and sectors.
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