{"id":139460,"date":"2020-12-22T17:40:14","date_gmt":"2020-12-22T14:40:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/opportunities-in-fintech-for-entrepreneurs-to-explore\/"},"modified":"2020-12-22T17:40:14","modified_gmt":"2020-12-22T14:40:14","slug":"opportunities-in-fintech-for-entrepreneurs-to-explore","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/","title":{"rendered":"#Opportunities in Fintech for Entrepreneurs to Explore"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38d4e627031\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38d4e627031\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#What_exactly_is_Fintech\" >What exactly is Fintech?\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#Peer_to_Peer_Lending\" >Peer to Peer Lending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#Personal_finance\" >Personal finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#Digital_investments\" >Digital investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#Mobile_banking_and_payment_processing\" >Mobile banking and payment processing<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/opportunities-in-fintech-for-entrepreneurs-to-explore\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Opportunities in Fintech for Entrepreneurs to Explore<\/strong>&#8221;<\/p>\n<div class=\"entry-inner\">\n<p class=\"opener\">Fintech is a continually growing industry. The vast gap between what consumers can currently do and what they can do is one of the main reasons why the industry is growing rapidly.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.pwc.com\/gx\/en\/industries\/financial-services\/publications\/financial-services-technology-2020-and-beyond-embracing-disruption.html\">According to PWC<\/a>, in the next 3 to 5 years, slightly more than three-fourths of incumbent financial institutions (77% to be exact) will focus more on innovations to increase customer retention.\u00a0<\/p>\n<p>New <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> always excites people, and Fintech is undoubtedly still at its inception phase. Entrepreneurs who want to do something in tech but aren\u2019t sure of which industry they should focus on should consider going into Fintech.\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_exactly_is_Fintech\"><\/span><strong>What exactly is Fintech?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> consensus about Fintech is that it is a group of disruptive technologies and solutions in the field of finance. Startups are usually the key innovators and leading players in the fintech scene.\u00a0<\/p>\n<p>The typical organizational structure of startups allows them to produce minimum viable solutions faster than traditional organizations. Startups also focus on implementing agile processes, reducing the time it takes to test their solutions in the market.\u00a0<\/p>\n<p>Here are a few critical opportunities in Fintech for entrepreneurs:\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Peer_to_Peer_Lending\"><\/span><strong>Peer to Peer Lending<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Borrowing and lending are ancient concepts. Previously, the only way to get a loan was through a bank or through friends and family. If you have a poor credit score, you\u2019re not going to be <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved to get a loan from a bank. And if your friends and family aren\u2019t doing too well financially, you have negligible options.\u00a0<\/p>\n<p>Technology has changed the way we view the world and do business. It has also introduced new opportunities for people all around the world.\u00a0\u00a0<\/p>\n<p>Companies like LendingClub have made peer to peer lending accessible. People who want to earn by lending do not have to find people on the street anymore. They can go to platforms like Prosper or LendingClub, register as a lender, deposit money, and assess the right people to give loans to.\u00a0<\/p>\n<p>The main challenge in peer-to-peer lending is the delinquency rate, aka, how many borrowers take loans but do not repay them in time. To counter this, startups will need to improve their vetting processes while setting up contingency plans in case borrowers do not repay their loans.\u00a0<\/p>\n<p>Peer to peer lending is still a new concept, which is why even with giants competitors like LendingClub, you can still carve out a name for yourself. Find something unique to offer in the niche and market it effectively for the best results.\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Personal_finance\"><\/span><strong>Personal finance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Personal finance is a booming niche that all tech-focused entrepreneurs should consider getting into.\u00a0<\/p>\n<p>Today\u2019s consumers are relatively more aware of their finances and are also enthusiastic about financial movements like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.daveramsey.com\/blog\/what-is-the-fire-movement\">FIRE<\/a> (Financial Independence Retire Early).\u00a0\u00a0<\/p>\n<p>There is still a lot to be done in the personal finance niche. Solutions like Mint help people keep their finances on track, while Acorns and Robinhood are assisting people to invest at their convenience.\u00a0<\/p>\n<p>These kinds of technologies are breaking barriers and are bringing financial solutions to the people that need them. After all, understanding your audience and making sure to facilitate them with tech like mobile apps, chatbots, and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.swiftchat.io\">live chat app<\/a> is something that will ultimately help people enter the world of personal finance.<\/p>\n<p>Personal finance has grown to be a broad field with its own set of problems. Keeping users engaged, maintaining company growth, and constant innovation are still areas that need improvement. New entrants in Fintech can learn from their predecessors and keep these things in mind when developing their own solutions.\u00a0\u00a0<\/p>\n<p>Increasing consumer awareness is also something that entrepreneurs in the personal finance industry should proactively be doing. The better your startup is at spreading the good word about tech and personal finance, the more your consumer base, and in turn, your audience will grow.\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Digital_investments\"><\/span><strong>Digital investments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Investing used to be something reserved for people who were already financially stable. The risks involved in the stock market and the lack of information available to the public made for consumers who were hesitant to invest in anything and who would end up just saving that money instead.\u00a0<\/p>\n<p>These days, with the advent of smartphones and other mobile devices, information is readily accessible to people. People are also more willing to invest in companies they feel an attachment to. Mobile banking and investing are also on the rise.\u00a0<\/p>\n<p>Services like Robinhood, Acorns, etc. have given people the ability to invest in stocks and other funds from their mobile phones. Fundrise also offers people the chance to crowdfund and make investments in the real estate sector.\u00a0<\/p>\n<p>People still want greater variety in the places and niches they can invest their money in. They also want a service that is intuitive to use and has a small learning curve. Understanding your audience\u2019s investment needs is the first step to creating a startup geared for success.\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Mobile_banking_and_payment_processing\"><\/span><strong>Mobile banking and payment processing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Let\u2019s face it, in most parts of the world; traditional banks are still king. Even if they take steps towards digitization and come out with a mobile app, it is substandard in most cases.\u00a0<\/p>\n<p>Several startups have already seen a gap in the market and have come out with their own solutions. Monzo (UK based digital-only bank), Atom, Tide are just some of the banking solution providers available on the market today.\u00a0<\/p>\n<p>Payment processing services like PayPal, Payoneer, TransferWise, have allowed freelancers worldwide to relax and get their payments efficiently.\u00a0\u00a0<\/p>\n<p>Other companies like S<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>e, Xoom, Square are also making significant headway.\u00a0\u00a0<\/p>\n<p>Mobile banking is the future, and the demand for a robust, secure, yet easy to use the app is still high demand.\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Fintech is undoubtedly a niche that tech enthusiasts should consider getting into. Even if you are not looking to start a company im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely, working for any of these many startups can prove to be an excellent asset for your later career.\u00a0<\/p>\n<p>There is still a lot to do in Fintech. Any niche that faces high demand but short supply can be something prospective entrepreneurs would want to look into.\u00a0\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.crowdfundinsider.com\/2020\/08\/165319-at-least-67-fintech-unicorns-operating-globally-with-north-america-leading-the-way-and-asian-european-markets-growing-fast\/\">According to Crowdfund Insider<\/a>, there are at least 67 fintech unicorns (billion-dollar companies) operating worldwide. The next unicorn just might be your future fintech startups.\u00a0<\/p>\n<hr class=\"wp-block-separator\"><em>Photo by <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/unsplash.com\/@austindistel?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\"><em>Austin Distel<\/em><\/a><em> on <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/unsplash.com\/s\/photos\/entrepreneurs?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\"><em>Unsplash<\/em><\/a>\n<\/div>\n<p><\/p>\n<div class=\"author-inner\">\n<p class=\"bio-name\">Hamzah Adil<\/p>\n<div class=\"bio-desc\">\nHamzah Adil is a digital marketing executive for SwiftChat &#8211; a live chat app designed to aid your customer support and sales teams. His interests include reading, writing, and going down random, completely unnecessary rabbit holes on YouTube.<\/div>\n<p><!-- social-link --><\/p>\n<div class=\"clear\"><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General <\/a><\/span>category.<\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.noupe.com\/business-online\/opportunities-in-fintech-for-entrepreneurs-to-explore.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Opportunities in Fintech for Entrepreneurs to Explore&#8221; Fintech is a continually growing industry. The vast gap between what consumers can currently do and what they can do is one of the main reasons why the industry is growing rapidly.\u00a0 According to PWC, in the next 3 to 5 years, slightly more than three-fourths of incumbent&#8230;<\/p>\n","protected":false},"author":1,"featured_media":139461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.noupe.com\/wp-content\/uploads\/2020\/12\/austin-distel-4r72LPFh4Ik-unsplash.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74889,47746,87484,78045,78300],"class_list":["post-139460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-payments","tag-entrepreneur","tag-entrepreneurship","tag-online-business","tag-online-payment"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=139460"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/139460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/139461"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=139460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=139460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=139460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}