Just think about the old banking process, for example, transaction of payments, e.g., long queue token no. waits for your number, fill and deposit slip or any utility payment, cash handling, withdraw cash, money transfer and, utility, fuel grocery payment even online shopping from internet web stores, etc.
Now this is the era of Innovations, you can do all the transactions with just a single click from your cellphone anywhere in the world, isn’t it amazing?
What is Fintech?
Fintech is the innovation in digital banking. Before the launch of fintech, banking was not been easy this way and people had to pass a thorough process to make a transaction of money.
FinTech is a combination of two words, Financial & Technology which means a transaction with secure technology.
Fintech is technology-enabled financial innovation, which is changing the way financial institutions provide customers and businesses the easiest way of financial services.
Fintech is reliable, secure, trustworthy, and just one click away from your digital gadgets.
Fintech Application
Fintech is the application of technology for delivering financial services and is a rapidly growing industry worldwide. Fintech providers are involved in improving existing services and creating alternate solutions to maximize benefits. They are quickly filling the gaps left by the traditional banking sector.
Pakistan’s economy is bouncing back and it is being recognized by overseas investors. Since last year, Pakistani start-ups have attracted millions of dollars from abroad. The Fintech industry has also emerged as a promising avenue for international investors. The benefits of Fintech can be availed by a large variety of sectors and so it is expected to expand in the coming years.
Fintech’s Future in Pakistan
In Pakistan, we have lots of Fintech companies such as Jazz Cash, EasyPaisa, Skrill, Mobicash, NayaPay, SadaPay, Keenu, Finja, CreditFix, and much more.
These all are fast, reliable, secure and business purpose fintech companies in Pakistan.
Fintech Utilization’s examples in Pakistan.
- Digital Lending and Credit
- Directly Fund Transfer
- Mobile Banking
- Mobile Payments
- Cryptocurrency & Blockchain
- Insurance
- Stock Trading
- Utility Payments
- Online Shopping
Fintech’s Advantages
The advantages of Fintech in Pakistan are wide-ranging and there is huge growth potential. The economy which used to suffer from a lack of diversity and opportunities now has a bright future ahead because of digitization and financial inclusion.
Following are the four primary categories of Fintech. These are of particular interest due to their rapid pace of growth, technological disruption, regulations, and other risks.
- Digital Lending
- Payments
- Blockchain
- Digital Wealth Management
How Can We Help?
Our company Sidat.net guides and provides services to startup your Fintech company. You should know about the following if you are interested in launching a Fintech company in Pakistan.
- Get to know the regulations. Fintech and banking are highly regulated industries
- Identify your niche
- Find your competitive advantage
- Hire the team
- Choose the tech stack
- Get funded
- Build and improve
On this program Sidat.net, we are offering the best packages and services where you can get your all deals from website development, digital marketing, advertising, design and technology, and much more while working with a single platform.
