If you stand too long pondering what to do, you could wake to a new financial sector like nothing before. The digital age has more than ramped up. Awards will go to top FinTech equity investors who have invested in successful FinTech startups. This year is LendIt’s 2nd industry awards dinner so you can bet the April event had many more innovations and VCs that have given out Series A funding. You can witness successful FinTech innovations in the following three: Albert App, NFC, and ID Finance.
You can’t help but like the name Albert and what Albert can do. It’s a personal financial tracker similar to Mint and Digit only better because Albert gives customer support. Albert app tracks your finances and, based on your needs, gives you personalized recommendations. Albert adds to the financial tracker “access to a human ‘financial concierge’ who [will] dole out personalized advice.” You can ask where to find the best deal on computers, or how to include unexpected expenses in the budget. The asking is yours.
The cashier tells you $4.50 and you wave your smartphone to pay. You can thank NFC for this FinTech innovation. NFC is making a difference in the way people make payments.You can hold your bank card up to a reader rather than slide it through a credit card machine or insert the chip. This FinTech innovation is being used in many countries. In fact, you might see a day not too far off when you can have the digital device surgically implanted. Then all it will take is a wave of your hand to make a payment.
Boris Batine is the founder of ID Finance, with headquarters in Barcelona. He started his fast-growing FinTech company in 2012. ID Finance specializes in data science, credit scoring, and digital finance. Smart data online lending serves both developing and developed countries. Money Man is one of his lending services that help people with short-term financial needs. When you’re low on cash, you can turn to Money Man. In February 2018, there were 3,000 registered clients.
FinTech innovations are taking over and some traditional banks, those brick-and-mortar lenders, are making appropriate changes to include the digital world. And who knows, the next step might be surgical implants so you can wave at the cashier while paying for your coffee or groceries. Just make sure you’re paying and not just waving. But your best bet would be to first talk to Albert’s “financial concierge” to determine if you can afford the implant since insurance most likely won’t cover the cost.
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