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| Bitcoin and Cryptocurrency Talk Discuss Bitcoin, Ethereum and other cryptocurrencies |
Topic Review (Newest First)
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| 01-10-2020 07:02 PM | |
| Nissivarghnese |
What are the steps to stop believing these myths about FinTech? Myth: FinTech technology is not secure Reality: FinTechs are subjected to FSA regulations; employing security and identity checks at every development stage, making them robust and secure. Myth: FinTechs regulate without any norms and regulations. Reality: FinTechs are confined to follow the local, state, and federal laws to operate. Myth: Lack of rigorous security controls in FinTech companies Reality: FinTechs employ the latest security controls and protocols, making them highly secure than many legacy systems and infrastructure. Myth : The consumers are unaware of the usage of the data Reality: FinTech companies, with certain terms and conditions, provide complete details of what and where the customers’ data will be used against the services and products. Myth : FinTech means only lending and payment Reality: FinTech not only deals with loans and transactions, but also with insurance, market provisioning, investment management, and capital raising. Myth : FinTech reaches only larger markets Reality: FinTech influences emerging markets like Latin America, Africa, and South-east Asia to transfer money around the globe. |
