DIGITAL PLATFORM AND DIGITAL BUSINESS MODELS

Points to discuss:

Table of About FinTech

A brief history of FinTech

Contents
Cybersecurity as it relates to FinTech
The bumps in the road for FinTech
The benefits of FinTech-driven payments
The next chapter for FinTech
About FinTech
FinTech or Financial Technology refers to
any technology that influences traditional financial
processes including tax filings, payments,bank
processes, and all other transactions that involve
finances.
 Was more vulnerable to theft and fraud

Banks Before Used manual processes that can be slow, tedious,

and prone to error

FinTech Provided costly and sometimes inaccessible

processes to the ordinary folk

Banks with Uses Smart Chip technology

Provides a more secure way of dealing with money

FinTech Digitizes all transactions

 A brief history of FinTech

1838 1950 1982 2009 2013

The electric Diner's Club The world was The first version of Google was
telegraph was released the first introduced to Bitcoin was first launched,
introduced for the universal credit TradePlus, released. followed by Apple
first time. card. the online Pay
brokerage in 2014.
platform.

Arner, Douglas. “The Evolution of Fintech: A New Post-Crisis Paradigm? By Douglas W. Arner, Janos Nathan Barberis, Ross P. Buckley :: SSRN.”
Social Science Research Network, 1 Oct. 2015, papers.ssrn.com/sol3/papers.cfm?abstract_id=2676553. Accessed 5 Apr 2021.
FinTech segments according
to transaction value
250

200

150

As of January 2021 100

Digital payments are leading

50
the way followed by personal finance,
alternative lending,
0
and alternative financing. 0 10 20 30
Cybersecurity Why it's important to develop
secure financial platforms
as it relates Whether it's data security and storage, management of

to FinTech transactions, or simple payment processes, it's important

to prioritize cybersecurity so as not to compromise the
integrity of financial platforms and services.
The Bumps in
the Road for
FinTech
Common FinTech
Risks and Challenges
Cybersecurity
Cyber attacks collect vast amounts
of personal data to carry out theft
and fraudulent acts.
The obstacles FinTech
faces in today's world
Data Management Tech Boundaries
and Security Many places in the world are not yet
fully equipped to adopt FinTech and
Consumers would like to know how
its complex systems.
their data is used, who has access to
it, and what happens to it should
they choose to withdraw it.
 01 Cheaper, Easier
There are now tools that allow both companies and
consumers many ways to send and receive payments
minus hidden charges and extra fees.

The benefits of
FinTech-driven 02 Better, Safer Alternatives

payments
There's a broader array of options for consumers to carry
out secure transactions, wherever they are in the world.

How businesses and consumers

are affected 03 Better Transparency
Users of FinTech platforms are more involved than ever in
their financial dealings and can access customer support
whenever they need it.
The next chapter
for FinTech

What's in store for companies and consumers?

As technology continues to penetrate our daily lives, we can expect FinTech to progress and
include more flexible, accessible, and cost-effective channels that more and more people
can take advantage of in years to come.
How we deal with money has
indeed been improved by
advances in technology,
encouraging us to invest in
our future better.
SECURITY BEST PRACTICES OF
SUCCESSFUL FINTECH PROJECTS

01 Next-level data protection and encryption

02 Secure code and architecture

03 Secure authentication

04 Good mobile encryption

05 Compliance
At the end of the day,
customer-centric fin-tech
solutions are going to win.

– GILES SUTHERLAND
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