Business Solutions & Software Group Blog

The purpose of technology is, in a nutshell, to improve a task to make it less difficult and/or more efficient to complete. This has lately been demonstrated in the information technology that powers the financial services industries. Finance, insurance, and banking have all seen their processes benefitted by “FinTech.” Let’s examine FinTech to gain a better appreciation for it and its capabilities.

Money is what makes the world go around, or so they say. Everyone is in business to make money, but the degree to which the organization deals with it might vary. For example, some companies, like banks, are designed to make money by helping others manage theirs. Banks and marketplace lenders take advantage of what is called financial technology, or FinTech, to more effectively provide services to individuals or organizations that want to manage, borrow, pay, see, or use their money in more efficient ways.

The primary reason that businesses are opened is to make money. Whether it’s to sustain a lifestyle, provide funds for a cause, or some other goal, a business needs an incoming cash flow in order to stay open. However, this is a fairly large problem for many small businesses, as their invoices often don’t return in a timely manner.

Not too long ago, cloud computing was considered more of a luxury than a commodity. Nowadays, however, many companies, even those who are just getting their feet wet in the business environment, are fully capable of using the cloud for all sorts of purposes. As the cloud transforms into a more accessible technology, many large companies have pushed their cloud platforms to offer secure storage, software deployment, and communications, in an effort to reduce costs.

Bitcoin, a cryptocurrency used for anonymity on the web, was once the hottest thing on the cyber market. Everyone thought it was a great innovation that allowed for improved online privacy for transactions. Thanks to some rather complicated matters, though, Bitcoin took a nosedive and has needed some time to get back on its feet. Now, it seems people are finally using Bitcoin again, and in a never before seen quantity.

ATMs are probably everyone’s favorite kind of computer. You swipe your card, enter in your PIN, and withdraw cash immediately. Many people forget that an ATM is simply a computer in disguise, though; one that can be infected with malware just as easily as any old PC can. A new type of ATM malware, GreenDispenser, is making its rounds in Mexico, and could potentially make its way to other countries if left unchecked.

When trying to raise money for a big startup or product release, it can often be outside of your budget. One solution is crowdfunding, or taking your endeavors public in order to inspire others to donate money to your cause. Unfortunately (or fortunately - take your pick), not many of these campaigns succeed.