Quick Credit allows the consumer to directly access its website and apply for a loan
We all belong to the generation that has witnessed a massive transformation in the finance industry i.e. Fintech Revolution. The word “Fintech” suppositionally imbibes two ground-breaking industries, finance and technology. Fintech is the prolific utilization of technology to deliver faster and convenient financial services. With the constant evolution of technology, the fintech industry has never left any stone unturned in integrating emerging technologies to enhance the user experience.
The current generation is more likely to rely on technology and look for comfortable alternatives for everything in their daily life. Millennials would always expect things to be done at their fingertips irrespective of time and place.
Though banks have always been in their best possible efforts to integrate distinct technologies to their operations and render impressive financial services to their consumers, somehow their efforts couldn't meet the expectations of consumers.
During that point of time, fintech has evolved with ultimate resolutions using technology to all kinds of financial services from a user convenience perspective and bridged the gap that banks were unable to fill. Peer to peer lending, digital payments, online transactions, instant loan accessibility, etc. were some of the brilliant innovations which have comforted our daily life from the banking perspective in numerous ways
By optimal utilization of technologies like Artificial intelligence, blockchain, bootstrap, etc. the fintech industry has changed the way of banking and transactions once and for all. Also, by employing various kinds of data extracted from different platforms such as social media or e-commerce, etc. it has become so easy for fintech platforms to understand the needs of the consumers and fabricate products according to it.