The technological evolution, the advances in the digital world and many other tools that have made the planet move at a dizzying speed and facilitate many procedures of daily life. Could not be absent from such a vital and sensitive area for human beings in an era full of modernity, such as banking and finance.
This is how in the last ten years humanity has become familiar with the term Fintech. And what does this laconic and catchy term mean? It combines two Anglo-Saxon words Fin, by Financial (finance) and Tech by Technology (technology). According to the renowned business and planning expert, Leonardo Montbrun, Fintech has become increasingly popular because, among other reasons, it allows describing the use of technology to improve conventional financial activities, as well as the design of tools and platforms to provide innovative financial services.
“Fintech is the revolutionary industry that came to transform banking as we used to know it. Many of us already use these tools in our daily lives, which give us the ease of making and receiving digital payments. For a given service or a good purchased , sending and requesting money, obtaining financing, and even donations, “says the co-founder of the Montbrun Group.
This investment evaluator warns that the new bankers will be very different from what the public knew until today. It is no longer just about having skills in economics, administration, accounting, asset management, investments and risk management. But also in the ability to innovate, create and build models and financial platforms that are safe, efficient and easy to use.
“I remember 20 years ago, being only a 10 year old boy, in my native Venezuela, the amount of time I spent in the banks, making long lines in front of the ticket offices, accompanying my mother to pay my school or my father to deposit the cash of your income for all the transfers you made during the week as a taxi driver. At that time, I had to settle for playing with a cart, using the railings of the bank as my track, “recalls a distant past who has also tasted success in crisis management and public relations.
But the change came and the banks started using technology to improve many processes. They understood that exploiting the technological boom was much cheaper than opening commercial branches and thus not collapse existing ones. But it was not enough, says Montbrun, because with the arrival of different economic crises, for many banks the modernization of processes and operations stopped being a priority. Since they are very busy with the regulatory entities, keep their licenses and obtain new ones. As well as in the management of assets and risks.
Fintech has given a way to great entrepreneurs to innovate platforms
This context explains how, despite going very far into the 21st century and where everyone supposes that the digital age is a fact like in science fiction films. That in many banks around the world, even the client must go personally to carry out an operation , while in others. Although it seems incredible, they even request documents via fax.
“This has given way to great entrepreneurs to innovate platforms, that from your smartphone in a matter of seconds, you can solve your daily operations. Companies such as Uber, Airbnb, Amazon, Alibaba, Facebook, Apple and Zelle, to name just a few, are platforms that provide us entertainment, convenience, connectivity and efficiency to obtain a product or service. What many do not detail is that all these companies, although they are not banks, have different financial licenses depending on the case, “says this professional who defines himself as a risk taker calculated to help companies prosper.
A new Fintech solution
Leonardo Montbrun recalls that there are already several Fintech financial institutions that call themselves digital banks, since they do not have commercial physical branches or agencies with traditional characteristics. In these cases, all customer service is online or virtual. But recent research shows that 2.5 billion people remain outside the financial system. This means that you are facing a path where there is much to innovate, invent and contribute to favor the human being.
“That’s why for the past three years, I’ve been working with a first class team to develop solutions such as Montbrun Group and Fintech applications such as TrustT, Shasta and Eat In,” he reveals. Details that Montbrun Group is a group of companies with different financial licenses that depending on the country, can operate as a brokerage house of conventional and digital currency exchanges, or as a regulated company for the management of client assets, as well as a fund of investment as an electronic money institution.
TrustT: A mobile application
Meanwhile, TrustT is emerging as a mobile application that allows its users to buy, sell, send and request gold without needing to have it in physical and to spend part of that gold they have as savings in any establishment with a debit card. “Eat In, is the APP that we bring to decentralize the restaurant industry. It is the platform that connects chefs from their homes with users who want to try homemade food near them; and finally, Shasta is a luxurious application operated as a club, exclusive but not exclusive, that allows its users to send and receive payments, interact with each other, obtain different types of memberships and benefits, as well as allow them to buy cryptocurrencies in a way easy and fast “, says his innovations.
Leonardo Montbrun says that while working tirelessly in these companies that provide more tools Fintech. Enjoy this industry from the comfort of his office in New York, paying at this time the classes of mandarin of his son, requesting an Uber for his mother He’s in Miami and ordering a lunch. “My goal in life is to build a better world for my son and future generations,” he says