The market of finance has been changing with new technologies recently emerged, such as financial startups, also known as fintechs – a word more and more common when talking about technology applied to financial services. You have certainly heard of several of these companies, but what you may have not realized is that technology has been gradually changing the industry of finance.
The term “fintech” is often used to describe financial services companies, but in fact they are technologies that force institutions, especially the most traditional ones from the finance industry, to rethink their business.
A vision of how the industry is going to change can already be seen through the use of blockchain and cryptocurrencies, and another dazzle of what the future holds can be seen with Artificial Intelligence (AI) that has been radically changing business auditing and making it increasingly faster and more efficient.
Keeping up to date with technology is the key to making progress in providing better and more efficient service to customers. For example, although organizations do a good job in this analysis, most of them still work with spreadsheet-based systems. This takes too much time from the team and hinders the progress of other projects.
The technology will happen in the future mainly through the use of predictive analysis and collaborative platforms. They will help in the integration of information throughout the organization, in visualizing performance in real time and even in the automation and robotics of support tasks.
A true personification of all these changes (and with a name that could hardly be any more suggestive), BnkToTheFuture is an online investment platform that makes innovation its main goal and focus of business. This company has figured out completely just how the industry will be different in the future and has adapted its operations to it.
BnkToTheFuture allows its customers to actually invest in financial innovation, such as the one brought by fintech companies, funds and other new alternative financial products. Because they know what the future holds, they want to allow everyone to get on board and invest directly in that future.
This company seems to be getting a lot of traction and attention, with even the likes of Sir Richard Branson stepping forward and sharing his opinion on BnkToTheFuture:
“I like the goals of BnkToTheFuture where everything is open and transparent, and people can see what happens with their money.”
Branson’s quote hits a very good point that helps explain the revolution currently going on in the world of finance: people want to control their money, something that the old banking and financial systems did not provide. Knowing this, it is almost certain that the future of finance will look very different from what we are used to these days.