8 Innovative FinTech Startups of 2017 That Will Shape The Industry

The recent wave of digitization in the banking industry – more specifically in payments – and the use of access and network technologies have created various opportunities for new entrants such as FinTechs and challenger banks to claim some market share, but also for established banks to reconsider their market position and rethink their value proposition to their customers.You might have seen a huge difference in the banking industry in recent years.

This helps in allowing for the development of the applications and programs with the help of which financial lives can be managed better.Fintechs and APIs: OverviewBy Fintech we simply mean those companies which make use of tech to provide financial services to customers.

APIs can be used by firms internally, to integrate diverse systems and allow for the exchange of data across different departments by performing API “calls” or sending queries to an API server.This systematic way of sharing data can make it easier for internal teams to collaborate and access information when and how they need it, thus helping to interconnect services and business processes across the organization as well as improve employee productivity and even create better omnichannel experiences for customers.In addition to having a variety of different uses, APIs provide numerous benefits to the fintech companies that use them.Banks can no longer close their eyes to the necessary digital transformation.

Therefore, it is worth making the transition to the platform bank, as it enables the transition to an API ecosystem that allows the use of current technologies without replacing legacy systems.Image sourceOpen banking via an application programming interface (API) is an integral component of the future of banking.

The performance of APIs can increase when criteria such as programming methods and programming languages and/or environments are selected appropriately.

The applications are often built on application programming interfaces (APIs) based on web technologies such as HTTP (HyperText Transfer Protocol), REST (Representational State Transfer), SOAP (Simple Object Access Protocol), and JSON (JavaScript Object Notation), which can be used for other operations.This feature enables the development of increasingly complex third-party applications, which repeatedly use existing content and services.

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The financial technology (fintech) revolution is quickly spreading worldwide, altering the global financial dynamics.

The spectacular growth in the usage of smartphones has only catalyzed the adoption of digital tools for fintech platform solutions.

Here are 5 ways in which fintech is transforming the banking and financial services landscape-  Enhanced customer experience powered by omnichannel presence: Fintech platforms enable banks with powerful banking capabilities for better customer engagement across different channels and deliver a hyper-personalized experience, enhance customer value, and seamlessly transition to the digital age.

Digital handshake with cloud AI: Banks are offering a unique customer experience centered on personalization, speed, relevance, and seamless delivery, such as AI-enabled Chatbots to manage customer queries faster and save time.

With RPA being applied, the KYC process is made much faster, and customer data can be analyzed and verified within moments with very little room for inaccuracies.

Digital currencies using Blockchain technology: Customers have benefited from cryptocurrencies for moving money, lowering expenses, and saving time since blockchain provides a reliable trading platform with improved transparency.

 Demand for developing decentralized exchanges on Blockchain network is now creating a huge hype in the DeFi market.

In 2021 the DeFi space is booming day by day and the need for recreating a new DEX aggregator like 1inch have offers a better trading experience for the new users of the DEX platform.To your surprise, there are multiple DEX aggregator platforms in today's market but there are certain reasons which will be much convincing for you for starting an exchange similar to 1inch.One of the exclusive benefits of launching a 1inch like DEX aggregator is simply to manually checking can be avoided as there is no need to check the price of other multiple exchanges for swapping of tokens.Time-saving is one of the primary concerns that let's the new traders to keep moving on to the defi exchanges like 1inch.1inch DEX aggregator development1inch protocol development services let's you to develop the robust fast trading DEX platform with a minimal number of swaps in the shortest span of time.The emergence of starting a decentralized exchange has become quite common in recent times that let's any defi exchange startup freaks to start a fully smart contract powered DEX aggregator platform which process faster transaction at the peaking speed.

A wide variety of Decentralized exchanges is collectively collaborated and the very best token prices are chosen which can offer a better p2p trading experience for users.Guidelines to launch a 1inch like exchange platform in the simplest wayOne of the easiest ways to launch a 1inch like exchange is to get a pre-built 1inch exchange clone script which is a multi-tested DEX script that allows the integration of smart routing and liquidity aggression to launch an exchange platform exactly like 1inch exchange.The script is developed in a way that includes flexible trading options, by reducing liquidity problems commonly caused by the DeFi exchanges.

By making effective use of the 1inch clone script all the scalable features for starting an exchange similar to 1inch can be deployed at a faster point in time.We sellbitbuy is one of the top class defi development company that offers DEX platform development services like 1inch which allows the entrepreneurs to start their own startup which is bound with the smart contract technology and the decentralization concept.To get the entire information about the features we include in our 1inch clone script, refer the below link for it.Get a completed guide @ https://www.sellbitbuy.net/1inch-exchange-clone-scriptWhatsapp @ (+91 8015204845)

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Today, even an entrepreneur or business person in a distant corner of India can become showbiz royalty and win customers from the nation over and even abroad, because of e-commerce selling.Yet, before you transform your e-commerce dreams into the truth, there's a significant obstacle to cross.

A few years back, setting up a PG in India was a troublesome task.

It included broad documentation, long confirmation, steep arrangement charges, specialized expertise, and the sky is the limit from there.Quick forward to now – liberating up a PG is a bother and dealers have in excess of twelve decisions to browse.

This brings up another issue - how would you locate the best PG among the alternatives accessible?Interesting points prior to setting up a payment gatewayPayment gateway cost (Setup fee, TDR, Annual free, transaction fee and many more)Mobile application compatibilityTime to setup everythingMultiple Payment options (Credit card, Debit Card, Net banking, Mobile Wallets, UPI)User Interface of the gatewayCustomer care supportTypes of Payment GatewayThere are basically four types of payment gateways available in India which is as follows:Hosted payment gatewaySelf-hosted payment gatewayAPI hosted payment gatewayLocal bank integration payment gatewayPayG - One Platform Unlimited SolutionsPayG is one of the best payment gateways that you can integrate with your business website or mobile application for seamless and secure transactions.It used to incorporate a lot of documentation, check, colossal arrangement feeds and particular aptitude to make it work.

Regardless, as of now, it has gotten easy to set up a PG for selling your things in India.PayG can be a decent decision for your online/offline business and is planned in that manner so that both (merchant & customer) effectively sees how to make payment and how to do online transaction.Salient Features of PayG:Zero setup costHassle-free on boardingInvoice generationEasy to configureLow transaction feeRecurring billing facilityPayment Link facilityWebsite integrationAuto collection of paymentInstant refundFraud checkingHigh securityThe most effective method to choose the Best Payment Gateway in India:Integration Process:As an entrepreneur, your emphasis ought to be on business; not on integration process.

In the event that a specific payment gateway sets aside a lot of effort for joining, you ought to stay away from and pick the one which sets aside less effort for integration.Bank Settlement Time:At whatever point you look for payment gateway, ensure you check the settlement time.