Diving into the World of Fintech!

Fintech or otherwise known as Finance Technology is a multi-billion dollar industry that’s changing every financial aspect of our life, from how we make purchases to how we get loans!
Whether purchasing coffee at your local coffee shop or managing your finances, fintech is all around us in 2019.

Fintech, is now making finances easier with the ability to save, borrow and invest online or with a mobile device, without ever dealing with a traditional bank. In fact, Fintech products are designed to connect consumers’ finances with technology making things easier and faster.

How is fintech being used exactly?

Fintech has been manifesting in many shapes and forms. Here are some of its main aspects that you may have already encountered.

  • Crowdfunding Platforms: Crowdfunding platforms allow internet and app users to send or receive money from others on the platform. Instead of visiting the bank, it is now possible to go straight to investors for support of a project or company or cause.
  • Mobile Payments: It seems as though everyone with a smartphone nowadays uses some form of mobile payments. In fact, according to a report by Allied Market Research, The market is expected to keep rising at a high CAGR and reach values of high millions by the end of the forecast period of 2018 up to 2023 to attain a market size of $4,574 billion.
    Using increasingly sophisticated technology, services have emerged that allow consumers to exchange money and payments online or on mobile devices. This includes the popular payment app Venmo. Apple and Alibaba have also got in on the mobile payment business with Apple Pay or Alipay.
  • Blockchain and Cryptocurrency: Cryptocurrency and Blockchain are trademark examples of fintech in action. Cryptocurrency exchanges like Coinbase and Gemini connect users to buying or selling cryptocurrencies like bitcoin or litecoin. In addition to crypto, blockchain services help reduce fraud by keeping source data and history on the blockchain making this currency easy to track and more secure.
  • Robo-Advising and Stock-Trading Apps: Robo-advising has disrupted the stock exchange sector by providing accurate algorithm and portfolio management done by sophisticated robots. This has increased efficiency and lowered costs when it comes to stock trading. Since the rise of more advanced technology that can analyze various portfolio options 24/7, financial institutions have adapted to offer online robo-advising services.

Telecom & Fintech

Nowadays, 2 types of corporations control access to the most important platform for businesses: Smartphone Manufacturers and Mobile Network Operators.
While smartphone manufacturers are best positioned to control the gateway into one’s digital life, operators are in a power of connectivity and distribution.

Yes, in theory, Telcos should be at the very heart of the digital revolution. After all, they provide all the bandwidth we use to access the web. They also provide the handsets themselves. Operator’s networks are fully aware of all our online payments, our diary, our email and all our web searches.

The matter of the fact is, that at the center of all these opportunities is DATA. It is all being gathered within Operators reach. With large subscriber bases, Operators generate rich consumer behavior data offering a detailed look into one’s personal digital universe.

Yet very few Telcos are really taking advantage of their potential. However, due to the pressure exerted by declining voice and messaging revenues, MNOs are now more eager than ever to monetize and expand other sources of revenue – which, of course, include mobile money.

Monty Mobile takes the Fintech Leap!!

MNOs have been, historically, the most successful providers of mobile money.
For example, MPesa`s early success in Kenya, will remain mobile money’s business case study of payment innovation in Emerging markets. It was 12 years ago; in 2007 when Vodafone launched the service!

As a result of industry maturity and technology changes, mobile money continues to evolve. We at Monty Mobile have always been aware of the huge potential of Operators. Which is why, we have established Fintech and Big Data analytics services and products to utilize their full capacity!

With services such as M-Analytics and M-Banking we guarantee a full range of products that will enable Operators to fully monetize their Data and dive into the world of Fintech.

Contact us to find out more at mbanking@montyholding.com