PayAdmit Blog - Articles for Fintech
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The Rise of Fintech Wealth Management
Fintech has a significant impact on investment. Studies and surveys show that more than 40% of investors prefer firms that use digital technologies. Fintech makes money management more accessible and more efficient.
How Fintech Is Disrupting Wealth Management
With the development of the Internet, the field of money management has also changed significantly. The financial advisor model began to transform as early as the 1970s, gradually transforming into mutual funds. In the 2000s, the active development of the Internet and the automation of money management began, and now intensive progress in this industry continues, which has created new roles for financial advisers.
The Future of Fintech
Until the 2010s, fintech was more of an ancillary sector. Financial technologies were used mainly in banks and on stock exchanges as something internal. However, there has been a radical change over the past ten years. Now financial technologies are becoming more accessible to individual clients. Private venture capital and the share of investments directed to fintech have grown tenfold.
IBAN, BBAN and BIC. What Are They, And How Do I Find Them?
The financial industry is one of the fastest-growing sectors in the world today. Companies in this sector have welcomed digital transformation to make their business processes more efficient. Over these years, some basics remain unchanged due to their usefulness. As it is often said, “if it is not broken, don’t fix it.” IBAN, BBAN, and BIC are some codes people dealing with banks have certainly come across. Even though these codes have been around for decades, they are still confusing to lots of users. So, in this article, we will explain all these codes, their structure and where you can find them.
PCI Compliance: What it takes to become PCI compliant
Data breaches and credit card information theft are among the top issues faced in this digital transformation era. There were about 389,845 credit card fraud reports in the US in 2021. Even tech giants like Adobe have fallen prey to cyber criminals, who got access to the credit card information of over 3 million users.
Acquiring Bank vs Issuing Bank
In the process of processing payments, two banks are obligatory participants – the issuer and the acquirer. The payment scheme of an online store is quite complicated, and if you are planning to start selling goods or services on the Internet, it is important to know the difference between issuer vs acquirer. In this article, we will explain what an issuing bank and an acquiring bank are and how they interact with each other when processing transactions.
What is third-party payment processing?
Every company that does business online needs to process payments. If earlier it was possible to sell goods or services for cash only, in the modern world, payments are made mostly online. However, third-party payment processing may be required for online payments to work effectively. In this article, we will talk about payment processors for small businesses in more detail.
What’s a Transaction ID and Where to Find It?
A payment processor is very important for any business. However, you should understand that when you start working with it, you will encounter certain difficulties. There will be a whole series of numbers and notes on financial transactions, which can be completely incomprehensible for a beginner.
Types of High-Risk Businesses
High-risk business is not necessarily hazardous. On the contrary, it may be profitable, promising, and, most importantly, legal. But this does not mean that the high-risk industry is named “just like that.” Problems with a company that operates in a high-risk area are quite possible.
What is FinTech?
FinTech is one of the fastest-growing areas in the financial industry. Its key task is to make finance more accessible to private and corporate clients. FinTech involves the development of innovative solutions in the financial sector, which makes it more user-friendly and more accessible to all parties. We will tell you what financial technology is and how it works.