Entrepreneurs in financial services are helping to create a new middle class in the developing world. At the end of 2016, only half of the world had access to internet. Internet usage in third-world countries is growing tremendously, and those emerging markets hold potential and opportunity for fintech. This is because fintech is a necessity in these countries, compared to first-world countries that have many alternatives. According to McKinsey Global institute, widespread adoption of digital finance could increase the GDPs of all emerging economies by $3.7 trillion by 2025. Fintech can also bring a level of service enjoyed previously by only the wealthy, such as wealth management advisor services as a reduced cost through robo-advisors.<\/p>\n
I agree with this article that fintech will help to increase inflow of money into the economy. Through adoption of internet in countries that lack it, this service has a brand new market to service. It is also accessible as long as there is internet, and may be the only option for transferring and maintaining funds in a country. By offering services at a fraction of the cost of traditional banking, it is able to reach to all socioeconomic classes by providing different packages.<\/p>\n
Entrepreneurs in financial services are helping to create a new middle class in the developing world. At the end of 2016, only half of the world had access to internet. Internet usage in third-world countries is growing tremendously, and those emerging markets hold potential and opportunity for fintech. This is because fintech is a necessity … Continue reading How Fintech Is Powering The Global Economy<\/span><\/a><\/p>\n","protected":false},"author":1815,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1746","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":1,"qubely_featured_image_url":null,"qubely_author":{"display_name":"michellewu","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/michellewu\/"},"qubely_comment":1,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Entrepreneurs in financial services are helping to create a new middle class in the developing world. At the end of 2016, only half of the world had access to internet. Internet usage in third-world countries is growing tremendously, and those emerging markets hold potential and opportunity for fintech. This is because fintech is a necessity…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1815"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1746"}],"version-history":[{"count":2,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1746\/revisions"}],"predecessor-version":[{"id":1748,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1746\/revisions\/1748"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}