FinTech News, Good Stories from Asia Pacific to the World

FinTech News from FirmKnow –

Firmkonw recently updates a new module related to the FinTech field. Firmknow will provide the latest FinTech news and deep technology useful for your sector, which will mainly focus on the Asian-Pacific region.

From a global perspective, the wave of FinTech has come. Neither the doubters nor the advocates can deny that. The mainstream financial system, regulators, and scholars must reexamine the revolution of FinTech from the background to the front. Over the past two years, the adoption of FinTech tools across the region has skyrocketed among consumers and small businesses, particularly in China, India, and financial hubs.

FinTech News in China & the Global World

In China, new technologies such as the Internet, Big Data, and AI have a great impact on daily life. At the same time, the current financial sector is also facing the impact of new technology, FinTech has attracted attention from all sides. We believe that new technology has become the key to the next stage of China’s high-quality economic and financial development.

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Whatever in the world or China, the following major trends may occur in the future development and transformation of FinTech. First, technological differentiation, standardization, and extrusion of bad currency. The impact of technology on the financial industry will be moderately differentiated to a certain extent. At the same time, technology itself also needs to be screened, standardized, and implemented. Especially when applied in the financial field, it is necessary to further promote the standardization of technology and eliminate all kinds of “fake technologies.”

FinTech
Fintech: blockchain, financial technology, payment, online banking, investment, and crowdfunding. Source: European Parliamentary Research Service Blog

FinTech News to see the future

In the future, FinTech will further give play to its advantages and provide more new means to solve the problem of unbalanced and inadequate financial development. In the overall development trend, the FinTech industry has entered a period of structural optimization, and the engine function of the digital economy will continue to emerge. From 2013 to 2017, FinTech revenue has achieved positive growth, with a compound annual growth rate of 56.6%, and is predicted to reach 1.97 trillion yuan by 2020.

To an extent, that’s happening now with global FinTech, as all eyes turn toward China. However, we believe that in some of the Asia-Pacific markets, several factors will help keep the East on the cutting edge: a new openness to innovation by regulators; the advent of virtual banks; the growth of the API ecosystem; and, finally, the entrance of new competitors backed by Chinese financial and technology giants.

Firmkonw will keep working on the FinTech field, bring the most valuable news to our subscriber.

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