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Table of Contents
1.0 Introduction...........................................................................................................................................2
2.0 FinTech Solutions for financing..............................................................................................................2
2.1 Crowdfunding....................................................................................................................................2
2.1.1 Solution through Crowdfunding.................................................................................................3
2.1.2 Strength of crowdfunding...........................................................................................................3
2.2 Digital Banks..........................................................................................................................................4
2.2.1 Solution through digital bank.........................................................................................................4
2.2.2 Strengths........................................................................................................................................4
2.2.3Limitation........................................................................................................................................4
3.0 FinTech solution for investment decisions............................................................................................4
3.1 Data analytics........................................................................................................................................5
3.2 Robot advisor........................................................................................................................................5
3.2.1 Strength of robot advisors..........................................................................................................5
3.2.2 Limitation....................................................................................................................................5
4.0 FinTech solution for operating decisions...............................................................................................6
4.1 Mobile payment app.........................................................................................................................6
4.1.1 Strengths of mobile payment apps.............................................................................................6
4.2 Self-Payment Kiosk................................................................................................................................7
4.2.1 Strengths........................................................................................................................................7
4.2.3 Solutions with.................................................................................................................................8
5.0 Conclusion.............................................................................................................................................8
References.................................................................................................................................................10
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1.0 Introduction
People's and businesses' relationships are changing dramatically due to the fourth

industrial revolution. In most industries, new technologies are being introduced that

create whole new ways of meeting current needs and significantly disrupt old industry

value chains by enhancing the speed, quality, or price at which value should be

supplied. Xiaomi has not been left behind since it plans to venture into the healthcare

sector to provide essential digital health services to the local community and the

marginalized. The emergence of technology-enabled platforms that create new ways of

providing services to people is an important trend. AI and ML are changing and helping

companies reduce operating costs, detect fraud and expand the value provided to the

customers. Xiaomi, to be successful in the healthcare sector, has to adopt current

Fintech solutions such as CrowdfundingCrowdfunding, and digital Banks to finance their

operations and utilize data analytics and robotics advisors for effective investment

decisions. Moreover, mobile payment apps and Self-Payment Kiosk will aid in making

operational decisions.

2.0 FinTech Solutions for financing

Xiaomi requires around $ 3.5 million; the figures include emotional, physical,

educational, human, and financial resources expenditures. Modern investors are

rational of current fintech technologies controlling the world of business, where investors

are shifting from traditional to digital investment financings such as crowdfunding market

and digital banking,

2.1 Crowdfunding
Lambert and Schwienbacher (2010) define CrowdfundingCrowdfunding, as a digital

fundraising channel (it wires conventional and IT-empowered

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CrowdfundingCrowdfunding together) that focuses on taking advantage of the power of

the group for supporting different sorts of ventures which may not effectively get

financed through conventional approaches to raising money.

2.1.1 Solution through Crowdfunding

Xiaomi will engage the CrowdfundingCrowdfunding, a collaborative method that entails

a group of people who pool their funds to support the activities of individuals and

organizations over the internet. There is a need to utilize email marketing and search

engine optimization (SEO) by sending spam emails and SEO to be successful. In

addition, this will also create awareness about the intentions of Xiaomi to engage in the

healthcare industry to take care of the local community. Moreover, for convenient

CrowdfundingCrowdfunding, Xiaomi will engage bloggers to create a page that shares

the detail of the company and set the donation page and drives traffic to that specific

page for easy access by donation crowdfunding to support our activities.

2.1.2 Strength of CrowdfundingCrowdfunding

Crowdfunding promotes social changes and innovation, breaking traditional barriers to

financial investment. Our company is located in China, where FinTech is highly

adopted; the implementation and finance donation will be easy as residents are already

aware of Fintech solutions. Moreover, donation crowdfunding will allow Xiaomi to

interact frequently with donors and reduce costs relating to coordination and transaction

(Choy & Schlagwein, 2016).

1.1.3 Limitations
The established donation crowdfunding platform might be hacked. Additionally, the

CrowdfundingCrowdfunding is mostly up to $2 million, which is inadequate to meet our

anticipated expenditures of $3.5 million.

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2.2 Digital Banks

Because of the rise in smartphone usage, banks have been obliged to develop mobile

applications that provide convenient FinTech financial services that allow the digital

transfer of funds and other ban activities online. The rising digital banks in 2022 include

Nubank, Chime, Fidor, C6 banks, Revolut, N26, Monzo, Simple, etc. (Volenik, 2022).

2.2.1 Solution through digital bank

Besides digitizing its operations and facilitating digital customer interactions, Xiaomi can

capitalize on these digital banks and take loans from a few, like N26 bank, to fund the

projects. Likewise, it can consider taking small loans from banks with different credit

terms, such as Revolut, MoneyLion, Tinkoff, C6 Bank, and Nubank.

2.2.2 Strengths
Xiaomi has an opportunity to consider the digital bank offering the most convenient loan

packages. Furthermore, they can get small bits of loans to carry short term activities.

2.2.3Limitation
The online payment account is prone to hacking. Likewise, it can be hard to get lump

sum cash because lenders require a reputation that may not be readily available.

3.0 FinTech solution for investment decisions

With estimated CFs of around $2.5 million, Xiaomi needs to build investment concerning

mass data and information available in the healthcare industry to solve patients' health

problems. Xiaomi requires Fintech technology such as data analytics and robot advisor

to analyze and sort these data. Data analytics drive customized risk evaluations, market

experiences, and community decisions- that can be effectively saddled to allow

individuals access to financing for their medical care.

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3.1 Data analytics

At the individual level, analytics has enabled unprecedented levels of customization and

personalization, including insurance plans and customized loans tailored to match

specific tastes and circumstances. Significantly, data analytics has encouraged the rise

of businesses that provide 'alternative risk scoring,' which employs modern methods for

assessing a person's creditworthiness. According to the Federal Reserve Bank Of San

Francisco (2019), in Asia, including China, 1 billion individuals are unbacked. Data

analytics plays a crucial role in unlocking capital and credit being utilized to offer point

care advances during scarcity for people and their families.

3.2 Robot advisor

Robotic advisors are online platforms that give computerized, algorithmic venture

services with limited human oversight. They frequently robotize and upgrade latent

ordering systems dependent on modern portfolio theory (FRANKENFIELD. et al., 2022).

3.2.1 Strength of robot advisors

They can carry out multiple tasks within investment avenues free from errors. Moreover,

they work within set asset allocation. Subsequently, Robot Advisors have no emotional

connection. Therefore they operate as per what is happening in the market at a specific

period.

3.2.2 Limitation
It requires an expert to handle this kind of software. It also requires mass investments. It

isn't easy to handle economic down trump.

Robotic advisors will allow Xiaomi to efficiently venture into productive avenues and

manage its assets and resources. Likewise, it will allow the company to calculate

expenses and the anticipated income the project will bring.

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4.0 FinTech solution for operating decisions

Xiaomi operates in the healthcare industry; during the first year of operation, the

company is anticipated wage and benefits, labor-intensive costs, prescription fees,

payable charges, administration expenses, insurance, consulting fees, market

promotion, and customer consultancy.

4.1 Mobile payment app

Patients are beginning to anticipate the same level of simplicity when paying their

medical bills as they do for the majority of their other expenditures. Patients can

manage their accounts on their phones by paying in full or setting up and monitoring

payment plans. Mobile payment app allows them to reduce the number of revenue cycle

workers needed to answer calls and move those staff up the cycle to provide more

financial advice, clearance, and estimates.

4.1.1 Strengths of mobile payment apps

Easier to pay by tapping on the phone and convenient as customers through mobile

payment allow interactions that motivate them to return for services (Hill, 2018).

Moreover, they provide valuable information necessary for business sustainability. It's

also cheap as no paperwork is required. Secure, the applications use either encryption

or safeguarded code to decrease the danger to your information. Electronic installments

can help you provide a beneficial installment experience to your clients for increased

client comfort. It enables your client to purchase things with a credit card by providing

compensation later in the office. Rather than delivering regular installment updates to

your clients, you can collect money after a set time.

4.1.2 Limitations of mobile payment apps

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Constant updates are required to remain with the latest version. Some customers prefer

traditional ways of debit cards. The mobile phone can be hacked, which exposes your

app details; hence one requires sufficient cyber security.

4.1.3 Solution through mobile payment

Xiaomi being a large corporation with other diverse business lines, it's wise to launch a

mobile payment app. The company can use CFs finances creation of its mobile app to

ease transactions among clients. Moreover, they can partner with Google Pay, PayPal,

and others to link Xiaomi payment accounts on their systems for transaction purposes.

4.2 Self-Payment Kiosk

This involves using an automated machine feed with different drugs and their price tags

and charges on consultant fees and digital receipt regenerations.

4.2.1 Strengths
It will reduce the risk of theft, as one can track transaction records at the end of the day.

Self-Payment Kiosks are quicker compared to the conventional techniques for

installments like money or checks. On account of online installments, you have no time

or area limitation. The self-payment kiosk accepts different payment methods.

Contactless, In the hours of the COVID-19, individuals have begun tracking down

approaches to keeping away from the human touch to save themselves from getting

impacted by Covid. Because of this, the requirement for contactless installments has

expanded, the payee needs to hold his telephone close to the terminal, and his

installment will get naturally handled. Likewise, a pay kiosk allows access to the stock

and track payment recorded to keep track of the business's operations.

4.2.2 Limitation
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Machines are costly and require huge investment, and are prone to malfunction.

4.2.3 Solutions with POS

Xiaomi can start with one automated drug self-kiosk to sell drugs to customers and one

POS to collect consultant fees and regenerate receipts for booking an appointment with

doctors. When the company starts having positive cash flows, it can purchase other

POS to streamline its services.

5.0 Conclusion
Despite representing a little portion of worldwide crowdfunding volumes, gift

crowdfunding is a novel model for supporting charitable causes and has a wide scope of

prosocial (Zhao & Shneor, 2020). While permitting pledge drives to use benefits

managed by ICT answers for more powerful and proficient fundraising endeavors than

customary strategies and channels. The advent of smart analytics permits monetary

administrations organizations to mine the abundance of shopper information to

comprehend and support clients better. Fintech innovation has likewise assisted

associations with creating inventive monetary services. Moreover, individuals can now

send cash to any individual straightforwardly with a few clicks on mobile phones.

Regardless of the high cost of installing most Fintech solutions and prone to cyber-

attacks, their benefits surpass these challenges. Organizations can raise equity funds

online and provide customer services with less human monitoring and savings in

operations coat and cost of finance. Utilizing the information from Fintech for Health

models, strategy creators, and wellbeing frameworks, organizers, can survey wellbeing

looking for conduct at the local area level by handling charging information and payment

information.
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References
Choy, K., & Schlagwein, D. (2016). Crowdsourcing for a better world: On the relation

between IT affordances and donor motivations in charitable

CrowdfundingCrowdfunding. Information technology & people.

Federal Reserve Bank Of San Francisco. (2019). Retrieved from:

https://www.frbsf.org/banking/asiaprogram/pacific-exchange-blog/implications-of-

asias-gender-gap-in-financial-inclusion/ [Accessed on: 7h April 2022).

FRANKENFIELD. J, SCOTT.G., & KVILHAUG. S., (2022). Robo-Advisor. Retrieved

from: https://www.investopedia.com/terms/r/roboadvisor-

roboadviser.asp#:~:text=Robo%2Dadvisors%20are%20digital%20platforms

%20that%20provide%20automated%2C%20algorithmic%20investment,based

%20on%20modern%20portfolio%20theory. [Accessed on: 7h April 2022).

Hill, A (2018). Mobile Payments Benefits. Retrieved from:

https://mystartupland.com/drawbacks-and-benefits-of-mobile-payment-in-

startups/ [Accessed on: 7h April 2022).

Lagna, A., & Ravishankar, M. N. (2022). Making the world a better place with fintech

research. Information Systems Journal, 32(1), 61-102.

Volenik, A., (2022). 10 Biggest Digital Banks in 2022. Retrieved from:

https://topmobilebanks.com/blog/biggest-digital-banks-2021/ [Accessed on: 7h

April 2022).
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Zhao, L., & Shneor, R. (2020). Donation crowdfunding: Principles and donor behavior.

In Advances in CrowdfundingCrowdfunding (pp. 145-160). Palgrave Macmillan,

Cham.