EYAL NACHUM

1. The term Fintech is a term that is widely used today. So, what is Fintech? Well, Fintech refers to the latest trends in the financial technology. In short, it refers to innovations that are created in the field of banking and finance, which have been very much Bruc Bond welcomed by the economy. These include recent technological advancements like the introduction of the Internet, mobile phones, and online banking, and the restructuring of all kinds of traditional institutions that were found to be obsolete at one point in time. So, what are the challenges that are faced by the Fintech sector? Well, there are several challenges that are faced by the banking sector and indeed, it is most vulnerable to these challenges as it relies so much on information about people, income, and so on. As you can see, there are a lot of issues that need to be faced. The first challenge that needs to be faced is the challenge of improving the current infrastructure and financing systems of the banking industry. This is because any kind of rapid improvement can lead to further complications in terms of implementing it properly and within the right framework. Another challenge that has to be tackled is the challenge of increasing the volume of electronic transactions. At the same time, there are a lot of opportunities that come with the use of Fintech. And these include the following: They can reduce the risks involved with investments as compared to the conventional investments. This also means that the amount of risk that is taken in investment is reduced by a significant margin. However, this risk reduction can only happen if the companies and institutions that are using Fintech develop proper procedures and processes and many other opportunities. While it is not very popular among most people, it is important to understand the difference between traditional and alternative financial services, especially for those in the banking and finance fields. While the financial services industry has a wide array of job choices, most banks and financial institutions simply are not focused on creating their own alternative financial services and alternatives to replace traditional ones. Traditional banking and financial services are still around, though they are shrinking rapidly. You may find banks advertising that they are now lending more for shorter durations, but this is because traditional banks are simply unable to keep up with a growing number of borrowers and lenders. Traditional banking is well supported by the financial services industry and much needed to stay around for another generation. For the rest of us, the only way to enjoy an alternative or first-rate banking and financial services, is to find a traditional bank that offers a fintech banking service that is better than traditional banking. This will allow us to enjoy our savings in addition to better interest rates, faster cash management, better credit lines, better customer service, better loan packages, and a variety of other benefits and features. With traditional banks, you are limited to their applications and settlement guidelines. For example, if your application is denied, you have no recourse but to look elsewhere. The downside is that you cannot continue to use traditional banking for anything else, which means that even if you are not yet ready to leave the traditional banking system, you can still suffer from the bank's perceived poor service. Fintech services are based on the same basic principles as traditional services. With a fintech service, you can do whatever you want and wherever you want to do it, even if you were to go bankrupt. If you're not sure how to apply to a traditional bank and whether or not it will even be possible, try applying online. If you are denied, you can always appeal, or talk to your lawyer. It is obvious that the basic differences between fintech and traditional financial services stem from the emphasis placed on efficiency and convenience, but there are also some other key differences. One major difference is the approach to pricing. Banks have historically been very conservative in pricing. When competition was strong, it was usual for banks to charge higher interest rates than competitors because they could afford to. Today, competition between traditional banks and fintech services has led to lower interest rates, which more than

2. offset the cost of the increased volume of borrowers and lenders. The lenders and borrowers have all become much more sophisticated, and the cost of meeting the fintech standard has come down significantly. Also, you'll notice that the number of banks offering these services has dramatically reduced. Banks are not interested in competing with each other to be the best, but instead are focused on providing higher quality services. Finally, many traditional banks have realized that their primary problem is not price, but the high volume of their customers, the high levels of fraud and poor customer service, the competition from fintech companies, and the general perception that they are not getting good service from the government. This has led to some reluctance in the mainstream banking industry to offer these types of services. If you are looking for a great article, which is announcing Conference FintechINN Lithuania, feel free to read the following article at https://www2.deloitte.com/content/dam/Deloitte/lt/Documents/finance/LT_FinTechInn_2016_Agenda_EN.pdf to find out what is going on in today’s market.