A Personal Finance Blog for Malaysian: Why FinTech will affects our life faster than we could imagine?

Friday, June 3, 2016

Why FinTech will affects our life faster than we could imagine?

Based on reports
Data suggests that investors poured $4.5 billion into FinTech companies in Asia in 2015, which is three times the amount attracted by their peers in Europe.
Basically FinTech companies need seed funding, in order to market their products to the mass market. If above data is accurate, we are looking at a very fast change in our daily life.

Imagine you renew your car insurance via mobile apps.

Imagine you buy PA insurance with a your Android phone or iPhone.

Imagine you can compare the best medical plan for yourself and buy it with the same phone.

FinTech allows us to manage our financial easier and faster, at lower cost, more benefits etc.

Just like Uber affecting taxi drivers around the world, FinTech is going to kill many small traditional player like insurance agents or unit trust consultants.

Read more here:-

1) https://letstalkpayments.com/why-asia-will-dominate-the-world-of-financial-technology/
2) http://www.fintech.finance/news/the-impact-of-fintech-in-the-world/
3) http://www.cnbc.com/2016/05/25/will-fintech-help-or-hurt-traditional-advisors.html