The main advantage of decentralized technology is that we have the ownership of our information. Yet this is also its biggest weakness and one of the reasons why decentralized networks did not gain that much traction.
With $143B in buying power in the US alone (making up nearly 40% of all consumer sales), Gen Z commands a growing influence over consumer trends––especially in fintech and banking.
The banking industry is continually searching for new ways to embrace technology and has mostly succeeded. But every new development brings challenges and obstacles.
Like most technology terms in the finance industry, “banking software” is an umbrella expression referring to digital tools that can process transactions, track balances, and simplify communication with customers. These are the banking software companies that are shaping the future of fintech in real time.
For the first time in human history, people can access their money whenever they want it. We can thank fintech for that. But what exactly is fintech?