How Fintech is changing the way we do business?
Although it seems ubiquitous, Fintech is actually still a very young industry. That said, there are certainly distinctly common threads across those within it, which could largely be considered increased accessibility, and speed. Fintech is responsible for the introduction and rise of peer-to-peer payments, mobile banking, and omnichannel payments processing which benefit not only individuals but also businesses. We’re living, working, shopping, and transacting in the internet era, so it’s expected that the way we do businesses is equally as nimble – and it’s Fintech that makes this possible.
Regardless of the size of a business, keeping up to date with financial technology is imperative for not only increased efficiencies but to enable your company to scale up. As the world gets smaller, more and more businesses are looking to international markets to grow and expand. No longer a pipe dream, operating with our neighbours in Asia, in particular, is becoming a realistic goal for many Australian businesses – however transacting with internationals has historically added another layer of complexity to an already loaded minefield of cultural unknowns.
Cultural learnings aside, it’s fintech that will make these business interactions and transactions not only easier but possible. Fintech has changed business operations from not only customer management to daily operations, and in the arena that Airwallex plays in, international payments and transactions.
We know that you don’t have to be a tech business or a bank to have experienced the universal pain points associated with cross-border transactions. Many companies do business overseas or want to make a shift into international transactions and markets, but the associated costs and time are currently a hindrance to doing good business and also to profit – and seamless payments and banking mean faster growth.
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Source: How Fintech Is Changing The Way We Do Business? – Women Love Tech