How Fintech Companies Work

fintech company list

What is Fintech Technology? 

Fintech is the contraction of the English term financial technology (“financial technology”) and designates companies that find methods to make financial services more efficient, intelligent, and attractive in the eyes of users, through the adoption and incorporation of technologies and innovative applications.

These can include different types of payment services, financial services, peer-to-peer transactions, alternative lending platforms and the new crypto-currencies. And while some of these companies and new systems, like Bitcoin, have been seemingly very volatile and downright confusing, there are more and more that have much greater appeal to both consumers and entrepreneurs.

What Is A Fintech Company?

Fintech companies are dedicated to intermediating in the world of finance in multiple aspects, in money transfers, in loans, in the purchases and sales of securities, or in financial and investment advice, to name a few areas in which that multiple Fintech companies are appearing.

Fintech companies are growing so fast because, after the great crisis produced after the collapse of the great investment bank Lehman Brothers, there was enormous dissatisfaction with the operation of traditional banking, and companies with new investment and financing alternatives appeared like mushrooms that covered part of that gap left by the discredit of traditional banking that stopped financing individuals and companies to lick and heal their wounds.

How does Fintech Work

A fintech works like a classic startup, that is, predominantly digital. The center of the commercial strategy is the customer. It is quite common for people to compare the services offered by banks and startups. According to the research, the union between fintech and banks will bring changes in the industry that will help to carry out operations as they should be.

Applications of Fintech

  • Fintonic

Essential so that you have control of your bank to the millimeter! This app will help you save and organize your money in a simple way. You will be able to easily see the status of your accounts, that you do not get duplicate commissions or charges and you will even know how banks value you if you need financing. Last year we were fortunate to have one of its founders

  • Stripe

Stripe is fantastic! If you have to manage online payments in your startups you need this app. You will not have a fixed commission per month for the service, only for the transactions made on your website. The amount you pay will vary depending on whether the card with which you make the payment is European or not.

  • Transferwise

Essential if you live abroad or have to send money to other countries because you will do it by paying the lowest possible price. The advantage: all the transactions you make will go with the real change that the currency has at that time. They will only charge you a small commission that you will know in advance.

  • Vapulus

It is an Egyptian online payment company that was founded in 2016. It aims to build a more financially inclusive society through advanced technology accessible to anyone. It acts as an intermediary between merchant and customer and offers many services. Vapulus gives an application that allows you to make many payment transactions with both end-user and merchant also.

  • Receive payments in 135 currencies
  • Support 146 countries
  • No subscription fees
  • No setup fees 
  • No monthly fees 
  • No yearly fees
  • There is no minimum or maximum settlement and high transfer flexibility
  • There are no fees if some transactions are conducted monthly or even if you do nothing.
  • There are plugins and integrations with any website or app.
  • Various payment methods
  • Electronic billing system
  • Activate your account in 48 hours
  • Technical support in the merger stage
  • Technical support in the integration stage
  • Support is available 24/7/365
  • You have a dedicated account administrator for your company who follows up with you directly
  • Immediate response via any means of communication within 24 hours.
  • In addition to the UK company formation service, the first startup in the MENA region provides this service in a professional manner
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