While many buzzwords come and go, FinTech is having a real impact on financial services today and tomorrow. In simple terms, FinTech is financial technology and innovation used to challenge and compete with the delivery of traditional financial services. So what does this mean in reality?
What is FinTech?
The services provided by FinTech companies are endless, including money transfers, loan applications, money for start-ups, trading platforms, custodial services and more. In reality, FinTech has been around in varying degrees for many years. However, the sector has experienced explosive growth in recent times. This is because modern-day FinTech companies not only challenge traditional methods and systems, but they are more nimble faster acting and have led to significant efficiency savings.
Outsourcing partnerships
Here at Global Investment Strategy Hong Kong, we have many outsourced solutions in partnership with integrated robotics and cutting-edge FinTech companies. This allows us to offer a seamless service, including account setup, regulator checks, dealing, custodial services and more. However, while FinTech solutions will enable us to remain competitive on price and maintain high-quality services, personal contacts and personal services are still important.
Data integrity
We provide dedicated coverage to clients across the Asia-Pacific region with 24 hour/5 day support for institutional and professional clients. Our servers provide bullet-proof data integrity and, in the rare event of an outage, our business-continuity premises in London will take over. This ensures we can maintain a seamless service to our clients in challenging circumstances retain the confidence and trust we have built since inception.
Relationships with tier 1 custodians
Over the years, we have built up many strong and growing relationships with tier 1 custodians across the globe. Injecting a high degree of transparency into our financial services, we are constantly reviewing and checking to ensure the highest degree of integrity is maintained. In addition, our integrated services allow clients to check current and historic account movements with 24/7 online access. We can also assist with any tax-related matters in a timely fashion.
Regulatory checks
As regulations continue to tighten for investment markets worldwide, FinTech is set to play a growing role in this area. The ability to carry out various regulatory checks at the touch of a button transfer funds while maintaining integrity will be critical for financial service providers and customers alike. In addition, it is essential to maintain a healthy and robust relationship with regulators, working with them to improve services and identify potential weaknesses in the system.
Innovation and local knowledge
Any investment market is based upon confidence, not only confidence in dealing services but also safe custody and regulatory checks. However, when it comes to areas such as the Asia-Pacific, innovation needs to be supported by local knowledge.
Incorporating innovation and local knowledge into our services and systems has helped us maintain an invaluable cutting-edge. While the FinTech market is now a multi-billion dollar sector, many believe it is still in its relative infancy. As a result, we are constantly reviewing and considering new FinTech services, conscious of maintaining the integrity of our services and investment markets as a whole.
We look forward to future developments with anticipation!