Quick money transfers, better exchange rates, faster and cheaper investment in crowd financing platforms and securities markets, easier pay services on mobile devices, automated spending and billing reports and analysis: these are just some of the benefits for consumers of fintech or financial technology solutions. To learn the news in the financial technology sector, attend the FinTech Conference at Riga COMM 2021 this October.
The ability of new technologies to capture and process data in real time changes how business is conducted, how products and services are perceived, and how consumers participate in this process. Financial technologies are developing the economy and society, creating more equitable, transparent and inclusive financial services, and promoting competition by giving consumers more choice.
Fintech has been a buzzword in the financial world for some time, and it has played a significant role in a variety of areas, including banking, insurance and investment. The combination of telecommunications, data analysis, cryptography, cryptocurrency and other machine-learning technologies is rapidly and significantly changing the entire banking sector – more quickly and significantly than ever before. The new solutions allow you to make transactions using a mobile phone or tablet, improve performance efficiency, security and customer experience, and reduce costs for your business.
Fintech is not just about the digitization of money but also monetization of data
Companies collect large amounts of data – information provided by customers, sales volumes, home page visits and many other types of data. However, companies need to know and use this data for their own benefit so that they are useful for business. The new technology solutions allow companies to convert big data to meaningful information.
Fintech helps companies of all sizes understand and manage collected data by creating tools and processes that convert them into meaningful, usable data. In this way, companies can analyse patterns, trends or relationships. Moreover, technological solutions make it easy to get reports that help you more easily track new information and create a more efficient strategy.
Perfect for SMEs
Innovative fintech solutions can contribute significantly not only to large organisations but also to small businesses, improving cash flow, working capital management and providing for more stable or safer funding. Moreover, fintech solutions are often cheaper and safer compared to banks.
Innovative fintech products give small and medium-sized enterprises access to a variety of financing opportunities: P2P (peer-to-peer) lending, merchant and e-commerce financing, invoice financing, online supply chain financing and online trade financing.
Also this autumn, from 14–15 October, learn about the latest digital marketing trends at the annual business and IT industry event RIGA COMM, where developers and suppliers of enterprise resource management, document management, HRM and security systems, suppliers of cloud services, internet and digital marketing services, web solutions and mobile application developers, and ICT product manufacturers offer ready-to-use and tailored solutions for companies in different industries and of different sizes, municipal authorities and organisations to facilitate efficient operation. An extensive conference programme will complement the technology exhibition.
RIGA COMM is held by the International Exhibition Company BT 1 in cooperation with Intelligent Machines Riga, Riga TechGirls, SmartHR Latvija, Latvian Chamber of Commerce and Industry, Mailigen, Finance Latvia Association and other partners.