Financial technology (fintech) is getting more and more popular and accepted every day and popping up with new uses almost by the hour. Surprisingly, only a little over 15% of digitally active consumers are using financial tech products. WOW! Would have thought it was more, but it is expected to double and more in the future. Well, to that end, here is a list from the 12 members of the Forbes Finance Council of their very favorite fintech tools that are causing a shift in the financial services market. Take a look, its BIG. (Bill Taylor, CEO)
"Fintech, or financial technology, is rapidly gaining ground with consumers as a more accessible alternative to traditional payment and banking systems offered by financial firms. As new fintech tools and software emerge to disrupt the established model, financial services are improving, offering enhanced efficiency, speed and accountability.
According to an EY study last year, fintech is growing in popularity, with roughly 15.5% of digitally active consumers using financial tech products -- a figure that was likely to double within 12 months. The United States had the second-highest adoption rate of fintech tools (16.5%), following Hong Kong with 29.1%.
Below, 12 members of Forbes Finance Council talk about their favorite financial technology tools and software and how they can cause a shift in the current financial services market...
1. Artificial Intelligence...
2. Peer-To-Peer And Apple Pay...
3. Blockchain...
4. Accounting Software (Yes, You Read That Right)...
5. Riskalyze, RetireUp and Asset-Map...
6. InvestFeed...
7. PeerStreet And WorldRemit...