LOGISTICS & FINTECH: FROM DIRECT BENEFITS TO BIG IMPACTS

December 20, 2017

Fintech stands for financial technology and encompasses innovation in the financial sector, including innovations in financial literacy and education, retail banking, investments, and cryptocurrencies. The fintech industry consists of a range of companies; from large and established financial and technology companies to small startup companies. These try to replace or enhance the usage of (part of) the financial services process of incumbent companies by advanced technology solutions. Entrepreneurs in fintech know the limitations of existing financial processes and are aware of the opportunities of new technologies. They focus on specific financial services and offer innovative digital solutions to the financial industry, or independently offer financial services to consumers or organizations. Fintech offers opportunities for nonfinancial service businesses and often entails ICT solutions building upon smart data gathering and processing. Fintech services may not be well known to the general public but are already widely used and accepted.

Spotlight

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Brightside is the first employer-based financial care platform to drive meaningful ROI for employers by making paychecks go farther for the 72% of Americans who are not financially healthy. Since 2018, its Financial Assistants, proprietary rules engine, and innovative products have helped thousands of families save more than $1,200 each while improving emergency savings and reducing debt, resulting in improved productivity, retention, and diversity while lowering healthcare costs.

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