Educate and Elevate: How FinTechs are Empowering Modern Customers

In the early 21st century, the relatively obscure term "FinTech" described the technology applied to the backend of systems of banks and other established fiscal institutions.

The COVID-19 pandemic forced a radical shift, bringing the term "FinTech" to the forefront of modern life. "In 2021, FinTech reached mass adoption when nearly 9 in 10 consumers in the U.S. and U.K. used digital apps and services to manage their finances.” Today, FinTechs operate in multiple industries across the board, including investment management, education, retail, and nonprofits.

With non-traditional non-financial companies integrating ever more seamlessly into the fabric of modern life, it is clear that the growing momentum behind FinTechs has yet to abate. According to the 2023 Harris Poll FinTech Report, nearly 6 out of 10 (56%) consumers say economic factors are making them reliant on digital financial tools. For Gen Z and Millennials—that number jumps to 65% and 71%.

But that is not all. Beyond using digital devices for day-to-day commercial activities and basic financial management, FinTech users now leverage the tools and services available as valuable educational resources. According to the 2023 FinTech Effect Report, 48% of consumers polled said FinTech apps taught them about cryptocurrency, certificates of deposit, and other new investment types.

Undoubtedly, developing a greater knowledge of ambitious subjects such as cryptocurrency and stock market investments is extremely beneficial. However, for thousands of consumers using FinTech apps as a means of personal investment, the goals are less lofty but no less valuable in nature - to create long-term stability and increased opportunity by reducing debt and improving credit scores.

To educate and elevate," Says OneBlinc Founder and CEO Fabio Torelli , "to empower is intrinsic to our company's DNA. FinTechs are more than digital alternatives to traditional services, they are value and transformation.

If we take a step back to look at the big picture, where the multiple benefits of FinTechs are placed side-by-side with innovative services and educational products, like OneBlinc Prime - OneBlinc's financial support monthly subscription service - it is clear that FinTechs have raised the bar on excellence and are elevating market standards across the globe.