December 2019CIOAPPLICATIONS.COM6Copyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.December - 24 - 2019, Volume 05 - Issue 75 (ISSN 2644-240X) Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com Managing EditorJoe Phillip*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSalesSebastian Jacobsebastian@cioapplications.comEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comContact UsPhone: 510.330.5174Fax: 510.894.8405EditorialFinTech: Embracing the Challenge of ChangeIt was in the 1990s when FinTech truly began to flourish, the introduction of internet and e-commerce business models proliferated the field to a stage wherein all banking processes were digitalized within the next decade. The development of innovative processes was in a rapid pace; it permanently transformed the way people managed finances, especially mobile payments. The transcendence has deeply imprinted on the lives of millennials and tech-savvy customers, who at present, expect their transactions such as money transfer, lending, loan management, and investing to be effortless, secure, and scalable, ideally without a visit to the bank or the assistance of a person. Hallmark examples of fintech in an individual's day-to-day life are mobile payment apps, cryptocurrencies, and blockchain like bitcoin. In the foreseeable future of fintech services, a transformation is predicted to evade the market with many advanced technologies like AI and ML, making the fintech products an integral core of the digital lives of people. This transcending mindset partnered with the technology of cloud computing has made it possible to invent newer, personalized solutions, and standard procedures such as the provision of access to banking profile, payment, and transfer of money with automatically converted currencies. The opposite end of the line is the regulation imposed by the governments and high expectations of customers, which have driven fintech companies to create services with long-term potential and implement it, making it the primary goal. To enhance the relationship among the customers, fintech companies have also launched crowdfunding platforms that assist smaller and mid-sized businesses, entrepreneurs, charities, and artists to receive extra support without having to raise money from conventional means. Other solutions like real-time conversion, microfinance, digital lending platforms, and cryptocurrency wallets have also raided the field with such vigor that it also resulted in disruption of sister-fields like insurance tech, asset management, and banking tech changing everything, policy related to data protection and provision of personalized insurances. The new face of fintech, driven by algorithms and customized portfolio management, has nurtured several companies that are mention in this edition of CIO Applications. Here, the curators have dived through a plethora of fintech solution providers, changing market trends, and client requirements along with a sneak peek into what the future of fintech would look like. We hope the insights from the many thought-leaders and innovative solutions will help you in making informed decisions for your enterprise. Let us know your thoughts. Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipGraphics & ArtEditorial StaffBen JacksonDaniel HolmesEzra BenjaminSoham SanyalRose DcruzSenior WritersClara MathewLeah JaneRoyce D'SouzaAsher Blake
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