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Fintech and Blockchain are the new trends of the financial system

The terms Fintech and Blockchain are part of the new trends in the financial system. It is dedicated to intermediating in money transfers, loans, purchase and sale of securities or in financial and investment advice.

The first concept is the result of the union of finance and technology. Which refers to all financial services companies that make use of technologies to offer innovative services and products, according to the specialist in Finance and Specialist in Tax Management and Auditing. of Taxes, Carlos Alberto Gil, special guest at the Second Meeting of Public Accountants held in the context of the celebration of the Day of the Accountant in March, an initiative that is developing the Department of Graduates and the Management of the Public Accounting Program of UNICATÓLICA , for the Community in general.

How to put this new technology at the service of the financial world

Gil, Master of Business Administration not only talked about this new technology put at the service of the financial world, but also expanded information about the Blockchain protocol, which literally refers to chain of blocks. A unique record contained in millions of nodes in a network that allows money as it is not only spoken of bitcoins and cryptocurrencies can be transferred without the need of intermediaries.

The use of these tools in the financial environment not only offers transparency and security, but can be used in the field of auditing. Also, the expert made special emphasis on technology companies in the financial sector stating that the millennial generation is in the years of higher consumption because it is more sensitive to digital offers. According to a study by Synchrony Financial, a financial company in the United States, this generation is the most likely to use mobile and electronic devices to buy and obtain discounts through them. The study also revealed that 62% of millennial’s respond to marketing offers sent to their mobile phones.

At present, applications such as Messenger, a Facebook messaging service, are used to carry out transactions through the Internet.

Fintech in Colombia

Since 2016, an association of articulated companies exists in the national territory with the purpose of creating a Fintech ecosystem based on the provision of services and products, with the support of the financial and governmental sector. This alliance would contribute not only to the strengthening of the national economy, but also to position the country as one of the main communities in the technological and financial industry in Latin America.

According to the portal of Colombia Fintech, this association has achieved a breakthrough by presenting the first Fintech Trust Seal of the continent. Which contains a series of codes of financial responsibility applicable to various segments of the financial business, such as digital credit, means of payment , crowdfunding, robo-advisoring, cryptoactive, neobanks, insurtech, among others.

Colombia is the third Latin American country that most bets on the implementation and use of Fintech, according to Gil. Who also invited the academy to include in its thematic curricula such important topics as digital transformation, electronic administration, Big Data , cybersecurity, digital analysis and artificial intelligence.

For the director of the Public Accounting Program, Gladis Rojas Grisales, this meeting became a space of approach that students and graduates have with UNICATÓLICA, besides representing an opportunity for professional updating, as they are topics of interest and current events.

Also published on Medium.

Published inFintech
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