# Why we like fintech… Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-12-14 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: The Rise of Fintech: Revolutionising the Financial Sector Meta Description: Learn about the relentless wave of innovation in fintech post the 2008 financial crisis. Discover how digitalisation is changing financial services for the URL: https://financedigest.com/why-we-like-fintechhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/community-banks-fintech-alliance-1736840197768-compressed.jpg) **Boaz Yaari**, founder and CEO of [Sharegain](https://sharegain.com/) Not satisfied merely being a buzzword, and archetype of cool, ‘fintech’ has officially made it into the dictionary, and rightly so. The wave of innovation disrupting and challenging the financial sector has been relentless post the 2008 financial crisis. The Merriam-Webster dictionary defines fintech as “products and services that employ newly developed digital and online technologies in the banking and financial services industry.” ![Boaz Yaari - Sharegain Founder and CEO](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/boaz-450x675-1736840197720-compressed.jpg) Boaz Yaari – Sharegain Founder and CEO However, digitalisation does not [create value](https://www.financedigest.com/how-to-create-value-in-digital-transformations.html "How to create value in digital transformations") by itself, it is of course a means to an end. To win and retain market share is also about providing a wholesome client experience and a [seamless customer journey](https://www.financedigest.com/how-to-navigate-a-seamless-journey-from-cio-to-chief-customer-officer.html "How to navigate a seamless journey from CIO to Chief Customer Officer") and this is what the successful fintechs have been focused on. As a result, financial [products and services have become much more accessible](https://www.financedigest.com/why-make-fintech-products-accessible-for-all.html "Why Make Fintech Products Accessible For All?") and available over the past decade, with more choices than ever. The [digital transformation](https://www.financedigest.com/why-digital-transformation-in-finance-is-crucial-for-post-lockdown-success.html "Why digital transformation in finance is crucial for post lockdown success") has enabled us to enjoy better financial management tools – from mobile payments to investing to cryptocurrency. This is powering the [way people engage and use financial services](https://www.financedigest.com/four-ways-data-and-ai-can-transform-financial-services.html "Four ways data and AI can transform Financial Services"). These digitalised and nimble offerings mean that young [businesses can get their next loan from nimble fintech](https://www.financedigest.com/how-to-overcome-the-current-challenges-facing-your-fintech-business.html "How to overcome the current challenges facing your fintech business") entities such as iwoca, Market Invoice or Spotcap instead of a legacy laden bank. Business transactions can be processed effortlessly by the likes of Square, Stripe or iZettle. Rather than [knocking on the door](https://www.financedigest.com/soccer-englands-houghton-will-keep-knocking-the-door-for-the-world-cup.html "Soccer-England’s Houghton will keep ‘knocking the door’ for the World Cup") of the traditional investors, you can now turn to OakNorth, Kickstarter or Gust for a more seamless experience and focused outcome. For top notch FX/money transfer solutions, and no transfer fees, there’s Transferwise, Azimo and WorldRemit. [Banking has also gone digital](https://www.financedigest.com/standard-chartered-rolls-out-digital-bank-in-hot-singapore-market.html "Standard Chartered rolls out digital bank in hot Singapore market") – you no longer need to go into a branch as you can do it all and more from the comfort of your armchair. The bank-customer relationship is changing also. Data analytics mean [banks can better understand customer needs](https://www.financedigest.com/change-is-inevitable-how-banks-need-to-adapt-to-customers-new-banking-habits.html "Change is inevitable – how banks need to adapt to customers’ new banking habits") and anticipate future ones. Banking personalisation adds the ability to [deliver insights](https://www.financedigest.com/research-delivers-insight-into-the-global-polymer-surfactants-market-during-the-period-2021-2029.html "Research Delivers Insight Into The Global Polymer Surfactants Market During The Period 2021-2029") to customers in a contextual manner, which provides a far superior user experience and better outcomes for all, let alone cheaper services. Why not use Monzo, Fido or Starling? Providing good services to demanding [wealth management](https://www.financedigest.com/annual-survey-of-wealth-managers-2022.html "Annual Survey of Wealth Managers 2022") customers has always been a challenge. The [cost of getting the bespoke thoughts of a qualified adviser/asset manager](https://www.financedigest.com/managing-cloud-costs-with-distributed-clouds.html "Managing Cloud Costs with Distributed Clouds") for people with not so bulging wallets has been largely uneconomic. That is changing. Today you can [invest your money](https://www.financedigest.com/8-best-passive-investing-ideas-which-can-help-you-make-money-in-2022.html "8 Best Passive Investing Ideas Which Can Help You Make Money In 2022") with Nutmeg, Scalable, Wealthify and not pay for investment advice. Offerings such as Oval [Money or Moneybox will help you manage your money better and save](https://www.financedigest.com/six-tips-for-saving-money-and-investing-wisely.html "Six Tips For Saving Money And Investing Wisely") more, and put some away for a rainy day, all from the comfort of an app. Most [fintechs have understood that digital](https://www.financedigest.com/the-fintech-digital-revolution-will-continue-in-2022.html "The Fintech Digital Revolution Will Continue in 2022") capabilities which focus on a superior client experience, and the savvy use of data, must be at the heart of any business model. Robust regulation hasn’t stopped them from focusing emphatically on simplification, reduction of friction while being as transparent as possible and putting the client at the centre of it all. So, you don’t just get a great app, you get an offering that exudes simplicity, engagement and transparency. They jump the user seamlessly through the hoop of the complexities associated with opening a [bank account](https://www.financedigest.com/scams-avoided-how-to-prevent-bank-account-scams-in-2023.html "Scams Avoided: How to Prevent Bank Account Scams in 2023"), buying insurance, making cross-border payments and taking business loans. Not convinced? Just ask their millions of happy clients. At Sharegain, simplicity, transparency and control have always been the pillars of our offering. We decided to bring these values to owners of [stocks](https://www.financedigest.com/mutual-funds-vs-stocks-which-is-better.html "stocks"), bonds, ETFs and enable them to benefit from the hidden value of their portfolio, with a great user experience and a full alignment of interest. For us simplicity and control mean that with a few clicks you can control all your lending activity in real-time – which securities to lend, to whom and how long, and see all the activity. With Sharegain, you choose your level of involvement – you can approve each loan, or set to [auto mode](https://www.financedigest.com/the-recombinant-parvovirus-antigens-market-to-be-on-an-auto-development-mode-with-digitization.html "The Recombinant Parvovirus Antigens Market to be on an auto-development mode with digitization") and let our tech work for you. Naturally you can decide to terminate the loan at any time, and we will recall the securities for you. Using Sharegain, or any other fintech disruptor, will eventually [come down to the cost](https://www.financedigest.com/implementing-sustainable-technology-practices-that-dont-come-at-a-cost.html "Implementing sustainable technology practices that don’t come at a cost"), value and experience we bring, in simple and smart way. This is the natural [evolvement](https://www.financedigest.com/rapidly-evolving-buy-now-pay-later-finance-drives-retail-growth.html "Rapidly evolving buy now pay later finance drives retail growth") of financial services. The ones who don’t focus on the seamless and simple, and delivering value and a superb [customer experience](https://www.financedigest.com/financial-services-is-upping-its-customer-experience-game.html "Financial services is upping its customer experience game"), risk becoming extinct in this digital age. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---