Jul
14
FinTech Currency Technology
Currency Foreign Exchange, Cryptocurrency and Digital Wallets make up the largest aspects of the FinTech revolution in Currency. Foreign Exchange This is one area that as a consumer you can almost feel the banks taking advantage of you. Whether it’s the currency conversion fees that are added to the ‘pedestrian’ exchange rate they give you or the additional fees a bank charges for you to access your own cash. The introduction of digital wallets, cryptocurrency and new approaches to foreign exchange and payments all form part of the FinTech currency movement. By introducing the ability for you to trade currency with a traveller looking to come to Australia when you’re […]
About FinTech
About FinTech The global events that occurred in the mid 2000's provided the perfect storm for this emerging industry. The GFC meant that experienced people lost their jobs, there was declining costs involved for startups and an increasing number of new graduates with no industries to enter, meant the talent that usually advanced the banks' dominance were encouraged to build their own businesses. The enormous success of early entrants such as PayPal and Square has had a profound effect on the industry with smart people the world over making products that focus on the user not the “middleman” (bank/incumbent). As more and more people are discovering FinTech they are realising […]
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