Mobile banking has taken the world by storm and Blockchain is touted as being the next big thing after internet banking; what do these two services have in common? They combine finance and technology in a way that is becoming increasingly common.

In recent years, finance and technology have developed a symbiotic relationship with one another. In fact, some businesses have married the two industries so closely a portmanteau was born — ‘fintech’. Advances are constantly taking place in this field, and investments are pouring in for businesses who classify themselves as ‘fintech companies’. The tools and software that make up fintech cover everything from P2P (Peer-to-Peer) lending and money transfers to personal finance management.

With the domination of services like mobile banking and blockchain, technology has acted as a disruptor for the financial industry, changing the way financial transactions take place. In this post, we’re going to explore some of the changes fintech has introduced to the financial industry and how these trends will hold in the future.


Artificial Intelligence plays a major role in fintech. Voice recognition technology has not only entered our mobile devices, but also our homes, thanks to products like Alexa and Google Home. With the public’s growing adoption of voice assistants, it’s only natural that they will soon be used to take care of banking functions as well. Software and Artificial Intelligence (AI) together could give rise to robo-advisors.

Basic banking-related tasks are being automated. Using custom algorithms, robo-advisors will provide you with financial planning and advising services. The bots take into account the customer’s financial history and information in order to provide relevant suggestions. This product is currently being tried out and is expected to become mainstream in the future.


Millennials are considered ‘digital natives’, and so it’s only natural that digital assets like cryptocurrency resonate with this market. To make use of digital currency easier, applications are being developed to allow users to send, receive and store cryptocurrencies. This is where platforms like Blockchain come in. Blockchain is a decentralized digital ledger that not only provides a place to store your currency, but where you can also trade with other users as well as analyze the cryptocurrency market with some degree of transparency and trust.

Already, financial institutions like banks in Asia are showing interest in this and have conducted cross-border fund transfers, using blockchain technology.


It is inevitable to talk about security, when discussing the transition of finance into the universe of technology.

A lot of our transactions and bank-related tasks are taking place via devices, facilitated by the Internet and powered by software. We buy and sell over the Internet using our credit and debit cards, we use online banking sites and even digital wallets. This makes security very important due to the sensitive data that is input and shared. When it comes to safeguarding personal financial details, software plays the role of gatekeeper and protector.

The correct and pertinent use of data analytics tools can help predict problems, as well as suggest solutions that can be put in place before the issue even crops up. The analysis of data not only gives insight into customer spending patterns, but it can also be used for customer segmentation and helping prevent and manage fraud.

The exciting thing about fintech is that not only will it continue to evolve and innovate, but the advances in this industry will be eventually enjoyed by everyone, regardless of job, class or social status. Our company has been fortunate to have worked in the fintech industry to help provide cutting-edge solutions to companies.