Trends like Robo Advisors, Blockchain, Peer to Peer lending and Mobile wallets will become essential technologies. Europe is quickly becoming a major force in the globe of Fintech startups. Igor Kaparis (the CEO of International Fintech) defines the Fintech trends that will strengthen the start of the cashless economy — and the jobs that go with it.
Table of Contents
1. Robo advisors
Robo Advisors is a new kind of online software that can help investors manage their investments. They can automatically choose investments and make a diversified portfolio for investors. After investing investor’s funds, on an ongoing basis, the software automatically makes changes to the investments to line up their portfolio back to a target provision.
The rise of this industry leads new job opportunities for software engineers, mobile front and back-end developers, behavioral researchers, cyber security professionals and more.
2. Blockchain
Visualize an online digital ledger where customers make and verify transactions directly on a network without any mediator. By shifting to an independent blockchain system, anyone who requires access to the data can get it online, when and wherever they need it. Blockchain technology is a completely new way of documenting data online. Blockchain applications are useful for social networks, messengers, games, exchanges, storage platforms, voting systems, prediction markets, online shops and much more.
It raises the demand for relationship managers, wealth management advisers, finance and stock analysts in the market. It will steadily transition to better demand for compliance, regulatory and finance policy professionals as well as accounting and tax experts.
3. Peer-to-peer lending
With interest charges on savings accounts and cash besieged to beat inflation, many savers are investing their money into riskier investments that provide a better rate of return. Peer-to-peer lending is alike saving with a bank but pays hefty rates of interest. Peer-to-peer lending platforms match up savers, who are eager to lend, with borrowers (individuals or small businesses). By cutting out the mediator and not having the expenses of conventional banks, peer-to-peer platforms can often provide you more favorable rates, whether you are a lender or a borrower, facing difficult to get a personal loan elsewhere. These platforms create many opportunities for finance professionals, technology experts, data managers, cybersecurity professionals, etc.
4. Mobile wallets
Banking has already moved from online banking to mobile banking. According to the research, mobile wallet transactions in the European Union will be predicted to rise by 61.8% in the next four years. A virtual wallet stores payment card details on a mobile device. Mobile wallets are a handy way for customers to make in-store payments and can be used at merchants listed with the mobile wallet service provider.
It turns mobile into powerful, convenient, and secure payment tools. In less than a decade, this technology has emerged as the primary mode of payment for millions of shoppers around the world.
Mobile wallets are completely varying the face of retail payments, so it’s the best time to cash the great job opportunities in the firms offering these kinds of services.
The new tools will raise the number of job openings for IT-professionals, like software and mobile app developers, professional designers and big data analysts. Even there will be job opportunities for candidates with finance, sales, and marketing backgrounds too.
