Why Fintech Is The Most Important Industry Right Now

This is a fantastic article on Australian FinTech. And it’s also great information to pass onto those who don’t understand what FinTech is and are unaware of how they can benefit from using Australian FinTech products.

Fintech is beginning to disrupt the financial world as we know it. The financial industry is now more focused than ever on technological innovation than at any other time. It’s so important, Malcolm Turnbull referred to it in his first speech as PM.

But, for those unfamiliar with the term, here’s a quick explainer. Put simply, Fintech is financial technology; a digital revolution. It’s about major changes to asset management, business and personal loans, fund raising, money transfers, and the way we invest. Fintech involves disrupting the way all businesses operate, as well as our personal finances. Why pay to see a financial advisor when you can get financial advice online for a much lower price?

Until recently, the financial industry has been regarded as being the industry slowest to grasp innovation. But the wheels are turning. Turnbull said Australia must recognise “that the disruption that we see driven by technology, the volatility in change, is our friend if we are agile and smart enough to take advantage of it.”

Source: Why Fintech Is The Most Important Industry Right Now