Sittu Group and the World of Financial Technology
Sittu Group focuses on its namesake: believing that forward-thinking can bring you endless possibilities in terms of innovation. The name of the company reflects the team’s work, philosophy, and values, which include diversification.
What is fintech?
In broad terms, fintech describes any company using the internet, mobile devices, software tech, or cloud services. Many fintech products are designed to connect consumers’ finances with easy-to-use technology, although the term can also be applied to business-to-business technologies.
Bardya Ziaian believes that fintech is in part a reaction to the desires of the new generation of self-directed investors. With a large demographic wanting control and personalization that fintech provides has created a large market of supply and demand. As such, fintech companies are now forced to compete to provide the best platforms, experience, and features for their customer base.
Fintech has made inroads with dozens of applications that have changed the way consumers manage and access their finances. This includes mobile payment apps to insurance and investment companies, fintech has disrupted traditional financial and banking industries. Potentially, fintech poses a threat to traditional brick-and-mortar banks or financial institutions.
Earlier, fintech referred to tech that applied to the back-end systems of banks or other financial institutions, since egrowing to encompass a myriad of other applications that are more consumer-focused. Now, it’s possible to manage funds, trade stocks, pay for food, or even manage your insurance through this technology, often from your very own smartphone.
The tools provided by fintech are changing the way many consumers track, manage and facilitate their finances. Fintech provides options to participate in financial services without the need for using big banks. This is precisely the purpose of fintech, to give consumers direct access to their finances through easy-to-use technology. But what other uses does fintech offer?