Saturday, May 31, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

OpixTech: Will Financial Technology (Fintech) Disrupt Traditional Finance?

by Euro Times
August 18, 2022
in Investing, Technology
Reading Time: 3 mins read
A A
0
Home Investing
Share on FacebookShare on Twitter

The growth of fintech has not only contributed to the expansion of the market for financial services, but it has also made the lives of the general public more convenient. Traditional financial institutions held a dominant position in the financial market before the advent of fintech. The operational model of the financial sector at that time was predicated primarily on human manual labour. The old method of conducting operations in financial markets has been rendered obsolete by the development of fintech.

The Traditional Financial Industry Has Undergone A Complete Transformation

There is a significant impact on the conventional financial sector due to the intersection of new technologies and finance, which is causing substantial changes to the industry’s third-party service model and internal control model.

Fintech has flourished in the last few years and now has a broad spectrum of uses; in short, artificial intelligence, big data, blockchain, and cloud technology are being utilized for payments, settlement, banking, financing, and investment, as well as insurance and retirement management. The financial services industry is undergoing a transformation that has never been seen before, and this trend is only going to continue for many more years to come.

In addition, the integration of fintech into all facets of the financial industry is progressing at an ever-increasing rate. Applying new technologies has resulted in significant improvements in the efficacy of financial services overall, as well as reductions in the expenses incurred by financial institutions during their daily operations. These improvements include intelligent customer support, intelligent risk control using big data, and intelligent investment advice.

Modern financial strategies are rapidly evolving due to the growing use of blockchain, cloud computing, artificial intelligence, and big data in the banking industry. This is the beginning of a new phase inside the progression of fintech.” — CTO of OpixTech, Alex Rowayve

Virus pandemics like Covid-19 have hastened global digitization and increased public adoption of financial technology (fintech). Financial services have undergone significant transformation as a result of these developments. Because of this, traditional financial institutions are stepping up their use of technology. As an example, cloud computing and big data technology may be used to integrate and analyze existing financial data to improve productivity and decrease operational risks; in addition, new businesses can be launched more quickly with cloud computing and big data technology.

Fintech, according to Alex Rowayve , the CTO of OpixTech, has a creative DNA and a business culture that is more in sync with the ethos of the Web than traditional banking, which has a monopoly. Because of this, fintech’s capabilities lay in the selling of regular financial products and the capacity to reach the long tail market at a minimal cost. Instead of being a replacement for each other, they form a complementary partnership.

As fintech and traditional banking become more integrated, we expect fintech to play an increasingly important role in the financial services industry. Technology will enable more people to engage in financial activities, resulting in long-term economic stability and prosperity.



Credit score: Source link

Previous Post

How English is becoming a popular option in Algeria

Next Post

Does unemployment really have to rise to bring down inflation?

Related Posts

Nothing is killing the Glyph interface: Something new incoming?

Nothing is killing the Glyph interface: Something new incoming?

by Adamya Sharma
May 31, 2025
0

Damien Wilde / Android AuthorityTL;DR Nothing has teased the “demise” of the Glyph interface in a dramatic video, although it...

Elon Musk departs DC with a black eye and a tattered reputation

Elon Musk departs DC with a black eye and a tattered reputation

by Andrew J. Hawkins
May 30, 2025
0

Elon Musk appeared alongside President Trump for a press convention within the Oval Workplace Friday, maybe for the final time,...

The 16 best gifts for dads

The 16 best gifts for dads

by Engadget
May 30, 2025
0

I’ve beloved Withings’ hybrid watches, which put all of the well being tech you want into an analog watch physique,...

Two rival Amazon influencers seek to dismiss their 2024 copyright case, where one accused the other of posting similar promotional content for the same products (Mia Sato/The Verge)

Two rival Amazon influencers seek to dismiss their 2024 copyright case, where one accused the other of posting similar promotional content for the same products (Mia Sato/The Verge)

by Euro Times
May 30, 2025
0

Mia Sato / The Verge: Two rival Amazon influencers search to dismiss their 2024 copyright case, the place one accused...

Grammarly secures B in nondilutive funding from General Catalyst

Grammarly secures $1B in nondilutive funding from General Catalyst

by Marina Temkin
May 30, 2025
0

Grammarly has secured a $1 billion dedication from Normal Catalyst. The 14-year-old writing assistant startup will use the brand new...

10 must-try Google Photos tips and tricks – including a new AI editor

10 must-try Google Photos tips and tricks – including a new AI editor

by Lance Whitney
May 29, 2025
0

Google / Elyse Betters Picaro / ZDNETGoogle Photographs has simply reached its tenth birthday, and the corporate is celebrating. To...

Next Post
Does unemployment really have to rise to bring down inflation?

Does unemployment really have to rise to bring down inflation?

The investor whose ascent mirrored India’s

The investor whose ascent mirrored India’s

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

The country that made smoking sexy is breaking up with cigarettes

The country that made smoking sexy is breaking up with cigarettes

May 31, 2025
John Hancock Income Fund Q1 2025 Commentary (JHFIX)

John Hancock Income Fund Q1 2025 Commentary (JHFIX)

May 31, 2025
Nothing is killing the Glyph interface: Something new incoming?

Nothing is killing the Glyph interface: Something new incoming?

May 31, 2025
Parents should talk to a doctor about COVID shots for kids, CDC says : Shots

Parents should talk to a doctor about COVID shots for kids, CDC says : Shots

May 31, 2025
Shapoorji Group secures .4 billion in record Deutsche-led credit deal

Shapoorji Group secures $3.4 billion in record Deutsche-led credit deal

May 31, 2025
ICE Gets Trolled For Asking If People Have Been Harmed By Aliens

ICE Gets Trolled For Asking If People Have Been Harmed By Aliens

May 31, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

The country that made smoking sexy is breaking up with cigarettes

John Hancock Income Fund Q1 2025 Commentary (JHFIX)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In