Delegates at Davos urgently need to make a big and bold commitment this year to fintech, an opportunity the world cannot afford to miss out on in a global economic downturn, one industry expert said. The call comes as leaders World leaders, CEOs, academics, influencers and celebrities head to the Swiss mountain resort of Davos for the 50th World Economic Forum (WEF), which begins on Tuesday. While celebrating his 50th birthday, Nigel Green, founder and CEO of the deVere group, said the World Economic Forum 2020 has an opportunity to support and enhance business transformation, dubbed the "Fourth Industrial Revolution." "We are living through a pivotal moment in history when growing and evolving technology profoundly and profoundly changes the way we live, do business and interact with each other." “We can clearly see the seismic changes taking place in the financial services sector, a sector on which trade and commerce is deeply dependent. The vast majority of this change is driven by fintech,” he said. Furthermore, he said that the applications of Investment and mobile banking, peer-to-peer lending, cryptocurrencies like Bitcoin, robot advisors, and crowdfunding are all part of this fundamental upheaval in #39;space.The momentum and energy of this evolution must now be harnessed by marketers. Delegates in Davos, he said, adding that they should get involved in fintech by using their time, their energy and their resources for their research and development for three main and positive reasons.
Ability to be agile
After the transition from e-commerce to fintech in 2018 in the Middle East and North Africa, fintech retained its top spot in 2019 and accounted for 13% of all transactions last year, according to the platform. Home MAGNETIC. Talal Bayaa, CEO of Bayzat, said that fintech will continue to be a popular industry for investors and entrepreneurs as new startups emerge to enable financial services across the entire value chain. "We will also see more mature players increasing their rounds as they look to become fully regulated, as there hasn't been a jerk in partnerships with mainstream players," he said. Philip Bahoshy, founder and CEO of startup data platform MAGNiTT, said accelerators and governments play a key role in supporting fintech startups. Green said that fintechs can accelerate the pace of global financial inclusion and can provide access to financial services to millions of people who live in remote areas and/or who normally could not 39; use financial services due to the historical biases of traditional financial companies. . “Second, fintech offers companies the opportunity to be agile, diversify, reduce costs and meet regulatory requirements while improving the customer experience. This will help them thrive in rapidly challenging times of change and disruption.” And third, the revolution happens with or without them. As consumers, we increasingly want all of our financial services to be processed online and/or on their mobile devices. We demand personalized service and instant access anywhere, anytime. This trend will only grow as we all become more and more reliant on technology,” he said.