Fintech—financial technology—is an emerging sector of the financial community impacting nearly all areas of banking, business, and customer interaction. In the past decade, we’ve seen innovation in retail banking, financial education, investment, and cryptocurrencies like Bitcoin. The result is more easily accessible financial endeavors for individuals and small businesses and increased accessibility between larger businesses and banking institutions. How can you incorporate fintech into your business?
> Improved Data. New technologies like machine learning and predictive behavioral analytics allow business orders to more accurately determine the right financial decisions by better improving their customer understanding.
> Smart Contracts. Computer programs can now automatically execute contracts between sellers and buyers, limiting the amount of legwork needed on your end and more efficiently gaining you sales.
> Cybersecurity. Given the proliferation of data stored online and in the cloud, small businesses can and should take advantage of improved cybersecurity programs to protect their personal and customer information.