{"id":8979,"date":"2023-01-11T15:17:27","date_gmt":"2023-01-11T15:17:27","guid":{"rendered":"https:\/\/dev-espa.summerize.io\/fintech-how-it-brings-new-data-to-entrepreneurship\/"},"modified":"2023-08-22T10:09:53","modified_gmt":"2023-08-22T10:09:53","slug":"fintech-how-it-brings-new-data-to-entrepreneurship","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/fintech-how-it-brings-new-data-to-entrepreneurship\/","title":{"rendered":"Fintech: How it brings new data to entrepreneurship"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/espa.io\/wp-content\/uploads\/2023\/08\/fintech-pos-fernei-nea-dedomena-stin-epiheirimatikotita-1024x575.jpg\" alt=\"\"\/><\/figure>\n\n<p class=\"wp-block-paragraph\">According to GlobeNewsWire, the fintech industry is expected to <strong>reach a value of $305 billion by 2025.<\/strong>Also the <strong>annual estimated growth<\/strong> is projected to reach <strong>25%<\/strong>.<\/p>\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/espa.io\/en\/c\/informatics\/\" target=\"_blank\" rel=\"noreferrer noopener\">IT industry<\/a> innovations<\/strong> were the driving force behind <strong>corporate expansion<\/strong>. <strong>Technology has helped businesses stay competitive in a rapidly changing environment<\/strong> instead of becoming outdated. <strong>Fintech companies have soared in popularity<\/strong>, amassing a steady stream of new holdings every day. They now offer <strong>simpler services that provide access to a wide range of value-added services<\/strong> and faster solutions.<\/p>\n\n<p class=\"wp-block-paragraph\">These companies are also changing <strong>the structure of employment in the financial industry<\/strong>. According to Aegean Equity&#8217;s analysis, fintech can have <strong>two major impacts<\/strong> on the financial industry:<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3B1;&#x3C0;&#x3CE;&#x3BB;&#x3B5;&#x3B9;&#x3B1;-&#x3B8;&#x3AD;&#x3C3;&#x3B5;&#x3C9;&#x3BD;-&#x3B5;&#x3C1;&#x3B3;&#x3B1;&#x3C3;&#x3AF;&#x3B1;&#x3C2;\"><strong>Job losses<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">Many fear that fintech will lead to significant job losses in the financial sector. These companies <strong>provide innovative services that change the way individuals work<\/strong> with financial institutions. <strong>Crowdfunding, mobile banking, online banking applications and technologies eliminate<\/strong> the need for customers to physically visit bank sites and interact with financial advisors.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3B4;&#x3BF;&#x3BC;&#x3AE;-&#x3C4;&#x3BF;&#x3C5;-&#x3C7;&#x3C1;&#x3B7;&#x3BC;&#x3B1;&#x3C4;&#x3BF;&#x3BF;&#x3B9;&#x3BA;&#x3BF;&#x3BD;&#x3BF;&#x3BC;&#x3B9;&#x3BA;&#x3BF;&#x3CD;-&#x3BA;&#x3BB;&#x3AC;&#x3B4;&#x3BF;&#x3C5;\"><strong>Structure of the financial industry<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">Companies in the industry are challenging large financial institutions to reconsider:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>organizational structures<\/strong><\/li>\n\n\n\n<li><strong>their functions<\/strong><\/li>\n\n\n\n<li><strong>the provision of products and services to the general public<\/strong><\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">Companies will be driven to operate more efficiently. Workers and financial professionals <strong>will need to broaden their skill set<\/strong> in order to find work in the sector.<\/p>\n\n<p class=\"wp-block-paragraph\">According to the most recent Report of the <strong><a href=\"https:\/\/www.pwc.com\/gx\/en\/industries\/financial-services\/fintech-survey.html\" target=\"_blank\" rel=\"noreferrer noopener\">PwC Global Fintech<\/a><\/strong>, the <strong>question is no longer whether fintech will change financial services<\/strong>, but rather which companies will implement it most effectively and emerge as leaders.<\/p>\n\n<p class=\"wp-block-paragraph\">According to a recent survey detailing the rapid digitization of financial services, <strong>nearly nine out of ten Americans now use some form of fintech app<\/strong> to manage their financial affairs. It has now come to be <strong>considered a mainstream<\/strong>, fueled in part by the coronavirus pandemic. The pandemic has prompted customers to use fintech for banking, payments and investments. The percentage of Americans <strong>increased to 88% in 2021<\/strong>, up from 58% in the previous study. According to the survey, <strong>it is currently used by more Americans<\/strong> than video-streaming subscriptions (78%) and social media (72%) combined.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-&#x3C4;&#x3BF;-&#x3BC;&#x3AD;&#x3BB;&#x3BB;&#x3BF;&#x3BD;-&#x3C4;&#x3B7;&#x3C2;-fintech\"><strong>The future of Fintech<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\">Over the next four years, <strong>the global fintech market is expected to grow with CAGR (compound annual growth rate) of around 20%<\/strong>. According to GlobeNewswire, the market value is estimated to reach <strong>$305 billion by 2025<\/strong>. Moreover, this year was a landmark moment for the industry, with the<strong>line between fintech and traditional financial services<\/strong> becoming more and more blurry. Due to competition from fintechs and the coronavirus pandemic, <strong>almost every existing financial institution is now behaving differently<\/strong> and participating in innovation operations. As a result, active operators invest, acquire and cooperate with fintech competitors.<\/p>\n\n<p class=\"wp-block-paragraph\">Fintech appeared in the twenty-first century to describe <strong>the technology used in the back-end systems of established financial organizations.<\/strong> However, since then there has been a transition to more consumer-oriented services and, as a result, he has been given a corresponding definition. Today it spans various sectors and businesses, such as <strong>education, retail banking, non-profit fundraising and investment management.<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/calendly.com\/randevou-espa-news\/15min?month=2022-03\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to GlobeNewsWire, the fintech industry is expected to reach a value of $305 billion by 2025.Also the annual estimated growth is projected to reach 25%. IT industry innovations were the driving force behind corporate expansion. Technology has helped businesses stay competitive in a rapidly changing environment instead of becoming outdated. Fintech companies have soared 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