Fintech professionals such as Ferhan Patel use financial technology in their daily tasks, and it competes with the traditional methods by making those facilities available for the public by changing the way they manage concerns with cash flow. FinTech is the financial technology, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the Internet.
Ferhan Patel provides financial services with the help of Fintech.
He is also a Growth Hacking Specialist.
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OneConnect Financial Technology Co. Ltd. (“OneConnect”, NYSE: OCFT), a leading TaaS company for financial institutions in China, has been appointed by Abu Dhabi Global Market (“ADGM”), the award winning International Financial Centre in Abu Dhabi, to support the development of the ADGM Digital Lab.
The ADGM Digital Lab is a digital platform where financial institutions (“FIs”) and FinTech firms can collaborate, test and develop innovative solutions for the financial services sector, with direct participation from ADGM’s Financial Services Regulatory Authority (“FSRA”).In recent years, digital innovation has become a focal point in Abu Dhabi’s plans and initiatives in building a knowledge-based economy to support economic growth and diversification.
Since its establishment in October 2015, ADGM has led significant efforts in accelerating the digital transformation of the financial services sector in the Middle East.
The Digital Lab is one such initiative to address the key challenges FIs and FinTechs encounter in their ability to deploy and scale innovation.
In particular:– FIs lack access to platforms to test and experiment with prospective FinTech solutions prior to procurement approvals and commercial agreement;– FIs encounter major difficulties and costs to integrate their legacy banking systems with FinTech solutions; and– FinTechs are overburdened with procurement processes and costs incurred each time they interact with the banks.Leveraging the ADGM Digital Lab, FIs such as banks can enable rapid prototyping by:– Replicating their operating systems within the testing environment of the Lab;– Choosing from an ecosystem of FinTech solutions to test new product offerings or replace legacy infrastructure; and– Developing new business models and picking and choosing components from different FinTech providers.Through collaboration between industry and regulators, the Digital Lab aims to create a trusted marketplace for experimentation to build the enablers for the smart financial centre of the future.OneConnect’s collaboration with ADGM on the Digital Lab is its first landing project in the Middle East.
As early as July 22, 2019, OneConnect signed a memorandum of understanding (MoU) with ADGM to jointly promote and develop FinTech innovation, ecosystems and market opportunities that will support and connect the economies in both the Belt-and Road corridor and the Middle East and North Africa region.
In today’s digital environment, technologies are moving at an incredible pace that makes financial software a vital need for any business.
Nowadays, business owners started to realize that managing finances would help them to reach long-term financial goals.
What’s more, without financial software solutions, their businesses may face losses that lead to bankruptcy.That’s why it is imperative to opt for financial software based on your current financial needs.
There is a variety of financial software solutions: some can help you to generate reports and forecasts, while others enable you to maintain budgeting history and track income, expenses, and investments.
In our article, we have provided a list of the best finance software solutions, their features and functionality that will suit any financial goals.