Fintech, which is a shorthand for financial tech, is a sector of the tech industry that helps people manage their finances with all things having been considered and taken into account. The sector has been growing for quite some time now, but recently this growth rate has started to become rather exponential, and it turns out that the various products that currently conform to the fintech label have seen a massive 337% increase in the total number of users that they have since January of 2020, reports Amplitude.
A lot of the products that have ended up seeing a reasonable amount of success since the start of 2020 have not been consumer facing products at all, rather they have been B2B products that make it easier for various businesses to end up getting some kind of work done. Remote work as well as hybrid models that involve some kind of situation where you might be looking into working from home as well as from the office at varying intervals have made these kinds of apps necessary, and chances are that more companies are going to start moving into this space because of the fact that this is the sort of thing that could potentially end up allowing them to get in on the ground floor of a fast improving industry.
Ecommerce saw a 60% boost after the start of the pandemic, and even now its growth rate is hovering at a pretty healthy 56% which means that fintech is going to start to become a great deal more important than ever before which is something that would give people a fair bit of confidence in the level of growth it can obtain. It is quickly becoming a crucial sector for people to start investing in and that alone makes it an industry that many are going to want to watch for the foreseeable future.
Read next: 1 In 4 Of Netizen Are Using Online Biometrics Authentication In Some Capacity
A lot of the products that have ended up seeing a reasonable amount of success since the start of 2020 have not been consumer facing products at all, rather they have been B2B products that make it easier for various businesses to end up getting some kind of work done. Remote work as well as hybrid models that involve some kind of situation where you might be looking into working from home as well as from the office at varying intervals have made these kinds of apps necessary, and chances are that more companies are going to start moving into this space because of the fact that this is the sort of thing that could potentially end up allowing them to get in on the ground floor of a fast improving industry.
Ecommerce saw a 60% boost after the start of the pandemic, and even now its growth rate is hovering at a pretty healthy 56% which means that fintech is going to start to become a great deal more important than ever before which is something that would give people a fair bit of confidence in the level of growth it can obtain. It is quickly becoming a crucial sector for people to start investing in and that alone makes it an industry that many are going to want to watch for the foreseeable future.
Read next: 1 In 4 Of Netizen Are Using Online Biometrics Authentication In Some Capacity