FinTech is innovating in several areas of this sector, such as the way of communicating with customers and with each other.
Finance is one of the historical and most relevant sectors of society. During its history it has undergone various changes and evolutions, but it has been the last 20 years that, through digitalization, have caused a major transformation for both, institutions andusers. During all this digitization process, companies that have wanted to bring the best and most innovative technology to finance have burst in: FinTech companies. In the last 8 years their presence has been increasing and they have consolidated themselves as a group of companies with projection in this sector, to the point that they are beginning to be the preferred option for consumers in some areas, such as the management of their own money.
This wealth management, together with new forms of payment, access to financing, investments or mobile banking, among others, are areas that FinTechs are covering quite successfully. Among their main advantages are transparency, agility, convenience and approaches, both business and operational, much closer to current trends in society, something that many traditional institutions have not been able to achieve, since their adaptation has focused on a digitization that has not provided all the innovations that FinTechs have managed to implement.
It is not just a matter of new services, which also exist, but of providing some of the existing ones in a disruptive way and with a better fit with today’s consumers. The way of interacting with the institution is a good example of this. The creation of more agile, virtual channels, with expanded schedules and different languages available has represented a formula that these start-ups have promoted, as opposed to the rigid and limited communication of companies such as banks, which are much less agile. On the other hand, these classic companies have focused their contact with the client with a part of commercial communication that is not always desired by the user, who expect solutions to their concerns, and not to satisfy the sales ratios of these companies.
One of today’s FinTech innovators in communication is German-based NAGA. NAGA launched its concept of a social trading platform that allows, and even facilitates, users of this environment to communicate with each other, breaking the limitations of many other systems that wanted their clients to have access only to the entity and vice versa; it also represents an adaptation to the new ways of interacting typical of the web 2.0, in which social networks have influenced so much. NAGA, in addition to having an extensive catalogue of assets with which to operate and the corresponding licenses for its operation and reliability, as can be seen in various portals that users visit to check if it is NAGA Scam, has wanted to go further to make innovations of existing services.
In its complete digital environment, it adds training tools and, as pointed out by leading forex broker reviews, access to MT4 and MT5 to be able to trade. Therefore, technology and the search for a customer who can grow on the platform with learning, information and socialization is a visible and clear objective. This concept of openness to communication is one of the elements that are changing the role of the user with FinTech to a more active and autonomous role. Instead of limiting contact with sources of knowledge, this active role is encouraged.
It is not surprising, therefore, that FinTechs are having such a positive reception in society and have a more benevolent evaluation, in many cases, than that of other traditional companies. In these new companies, customers find the tools to get information and make their decisions and, of course, they can receive help, but they are not constantly tutored and guided, keeping their ability to gain knowledge in the background. In short, a model much more adapted to current behaviours and active search for information.
