“Money, money, money must be funny in the rich man’s world”. Though super-melodic Swedes released these lyrics in the distant 1976, a little has changed about people’s attitude to money since then. Money is still one of the most desired things in people’s lives and a tool to provide ourselves with comfortable living conditions. We try hard to make it and do our best to handle money responsibly. Regarding the second point, we have made a large step forward — we opted for Fintech.
Briefly on Fintech
Most of the financial institutions have already started looking at financial and banking processes from a different angle. Though we can trace the first finance-technology interlinkage to the late 19th century, the real turning point took place after the 2008 global financial crisis. New banking channels vanished the outdated conception of old banking branches and presented us with 24/7 reachable digital banking. The explosive need to innovate quickly spread among financial institutions giving birth to technologies that might have seemed a part of a sci-fi movie a few decades ago — pay-down services, automatic savings, and finally, online banking applications.
According to Statista, 64,6% of US citizens used online banking in 2021. The American bank Chase released the results of its Digital…
