It’s an exciting time to begin a fintech company. Although you will find lots of unicorns and emerging startups in the fintech business, the marketplace isn’t yet saturated. The ever-growing investment in fintech reveals that there plenty of chances for the sector beginners and established company. But in case you need to be successful in fintech company by 2017, you have to reach upon these special startup thoughts.
With over $31.6 billion of investment in the United States, over $5.4 billion in the UK and over $49.7 billion invested globally, fintech is among the hottest technology sectors. Both accomplished players like PayPal, Square, or Intuit, and disruptive startups like Robinhood or Kabbage are reshaping financial industry.
If you’re considering starting a company in fiscal technology, your startup thoughts should find a spot in the subsequent possibly promising areas.
- Peer to peer lending and microfinance (P2P giving platforms, consumer financing, small business funding, loan markets).
- Personal finance and banking (this includes mobile/ online banking, financial planning, wealth/asset management, and automatic budgeting).
- Simple investing with AI advisers ( cellular/on-line trading, robo-advisers, stock markets)
- Using fiscal data in better manners ( big data and predictive analytics)
- Cellular transfer and payments (technology that enables more economical, more convenient and more rapid money transfer). Because of the exponential increase of the mCommerce and eCommerce, it’s forecast that more than 5 billion will use their smartphones to generate payments by 2019.
Your startup thoughts should solve a consumer or company issue. There certainly are lots of issues on which you need to base your startup thoughts.
First, in case your startup thoughts give attention to immediate fulfillment, your fintech company is most prone to achieve success. Barely banking services could be delivered immediately.
Second, corporate are carrying out the most complex trades like temporary lending, a LC issuance, syndication, among others.
Thirdly, SME is still fighting with banks in lots of states. Incorporating them with appropriate associates like trading and logistics firms will make them work nicely. Various banks still run together in a traditional way. This could be a rich place on your thought, right?
Lastly, your startup thoughts should solve issues in trading. Trading is an extremely complicated space. Many fintech entrepreneurs have just investigated the fundamental trading ecosystems. They’ve not handled the issue which comes with exotic trading products like gain swaps, options etc.
In conclusion, all the above mentioned opportunities are open for inventions. As technology improvements and regulators begin to support fintech, avoid being left out, 2017 could be your year of succeeding with fintech. Get your startup thought and get it into actions.