Connect with us

Startup News

Why fintech are fundamental to an ethical and sustainable world

The main purpose of fintech innovation is to have a positive impact on our society.

A few weeks ago, my friend Manuel asked me what I thought about the impact and social responsibility of the businesses I work with every day. Since I arrived at Fintech House I have dealt with entrepreneurs every day focused on bringing technology to the financial industry: for me, the positive impact is obvious. But the way he asked the question made me think that this might not be so obvious to everyone. Brands are known worldwide that have streamlined and made financial transactions or processes more accessible, which were only possible afterwards, after navigating through bureaucracy inaccessible to many. An evident case is that of Revolut, which started by making international exchange a faster and more accessible process for many, evolving into the digital banking service that we all know today and many use. “Yes, but that solves your problem, not the problem of those who live in extreme poverty”, said Manuel. That comment stayed on the air. So does it mean that our role as a player in the fintech world is only valid if we solve this problem? Surely not. But neither can we ignore it or overlook the impact and role of this industry in global society. Looking at the Sustainable Development Goals defined by the United Nations, we quickly realized that the first – poverty eradication – is closely related to access to money and property: Ensuring that the poorest and most vulnerable people have access to economic resources , as well as land ownership, technology and financial services is one of the fundamental points for the sustainable development of our planet. In this context, it is irrefutable to say that fintechs play a more important role in this global challenge. The financial industry – highly regulated – saw technology arriving more slowly and with more skepticism, not only from those who manage the business but also from customers. The adoption curve for digital products in banking is certainly slower, but contrary to expectations, innovation in the financial industry is solving many structural problems in our society and creating sustainable and socially responsible solutions. The startups FinTech have promoted financial inclusion, both in emerging countries where there are not always financial or insurance services, as in Europe, with people often socially excluded, such as immigrants or refugees. M-pesa, an application that allows you to transfer, withdraw money and access credit is being used in more than seven African countries, as well as in Albania and Romania, and is giving more than 25 million people access to these services, previously completely inaccessible to them. Investment in causes with impact has also become more accessible with platforms such as the Portuguese GoParity, which operates on two fundamental axes: on the one hand, it democratizes access to risky investment, with above-average rates of return, to people who before they had no access to it, and on the other hand, it only finances sustainable and socially responsible development projects. In the field of environmental sustainability, we also have the Portuguese Drivit, which, by bringing a more personalized insurance option to the use of each entity, promotes more sustainable and green mobility at the same time. Another example is ImpactMarket, a crowdfinance infrastructure that provides Unconditional Basic Income mechanisms for the most vulnerable communities. It is undeniable that fintech startups have a fundamental role in solving inclusion, access to capital and investment for human and environmental causes through technology. And we can say that the main purpose of fintech innovation is to have a positive impact on our society, in a global and scalable way. The speed and volume with which we can solve some of these problems through technology has immeasurably greater potential.

Leave your vote

Continue Reading
Advertisement
Click to comment

Leave a Reply

Il tuo indirizzo email non sarà pubblicato.

Startup News

New OnePlus 9RT: Specs, launch date, colors revealed

OnePlus hasn’t said how much RAM the 9 RT will feature, however Geekbench has shown that it will sport 12GB of RAM. However, an 8GB variant will almost certainly be available.

Shenzhen [China]: The OnePlus 9 RT’s launch date and specifications have been revealed by OnePlus ahead of its official announcement.

According to GSM Arena, the OnePlus 9 RT will go on sale in China on October 13, or next week.
Although the new OnePlus smartphone will be unveiled in China first, it is expected to make its way to India as well. In India, the OnePlus 9 RT has yet to be announced.

The Snapdragon 888 SoC will power the OnePlus 9 RT, which will be paired with LPDDR5 RAM and UFS 3.1 storage. It will have a 120Hz E4 screen and a 4,500mAh battery that will charge at 65W. The primary camera on the 9 RT will be 50 megapixels.

OnePlus hasn’t said how much RAM the 9 RT will feature, however Geekbench has shown that it will sport 12GB of RAM. However, an 8GB variant will almost certainly be available.

The phone maker also revealed that the 9 RT will be available in two colour options: black and grey, and that pre-orders will begin on October 13 in China, with the first sale on October 19.

We’re still four days away from the launch, so expect more information regarding the OnePlus 9 RT in the days leading up to it.

Leave your vote

Continue Reading

Startup News

Meaning of CEO, COO, CFO, CIO, CTO and CMO: Calling each executive by name

The adoption of business terms and technicalities from English-speaking organizations is increasingly widespread, and acronyms that describe executive positions are often favorites when used by those responsible for the areas of the company. The use of acronyms such as CEO, COO, CIO, CTO and CMO has become widespread, both in more traditional organizations such as startups and other technology-based companies.

But what is the meaning of these acronyms?

If we pay careful attention to its definition, we will see that the meaning of CEO and the rest of the management figures of companies are much simpler than you thought.

What is the CEO of a company?

The CEO of a company is the acronym corresponding to the acronym for Chief Executive Officer, which in Spain we usually know as CEO or Executive Director. He is the head of administrative management and direction in the company.

Who is the COO?

It comes from the Chief Operating Officer and can be translated as Director of Operations or Chief of Operations, responsible for the daily operations of the company such as production, logistics, etc.

What does CFO stand for in English?

CFO is the abbreviation for Ch IEF Financial Officer. In our business culture it corresponds to the Chief Financial Officer and his responsibility is the economic and financial planning of the company based on the objectives established by the board of directors, generally made up of those responsible for each area that we are analyzing in this post.

What is the CIO of a company?

It comes from the acronym for Chief Information Officer. Their role is attributed to the person responsible for the company’s information technology systems and usually falls into different professional profiles depending on the organization’s structure. Thus, the position of CIO may be the counterpart of the systems manager, although there is ambiguity in its implementation and it is often confused with the CTO, which we explain below.

What does the acronym CTO stand for?

It is the abbreviation of Chief Technology Officer and it is usual to give it the same treatment as the system manager in an erroneous way by many companies. The main difference is that while the CIO is responsible for the company’s information services at the process level and from the planning point of view, the CTO is the technical person in charge of the development and correct operation of the information systems from the point of view of execution.

What is a CMO in a company?

It corresponds to the acronym of Chief Marketing Officer and its translation in our business language is that of Marketing Director as the head of sales and product development, among other functions.

Its application in practice is different according to the structure of each organization, and there may be various combinations in the hierarchy of these executive positions. In general, the meaning of CEO of the company falls on the highest part of the organization and has as subordinates the executives responsible for each area, who report directly to this CEO to make his decisions. However, in other organizational models, the position of CEO held by its president as the visible image in communication and public relations of the company, delegating the highest decision-making authority to the COO.

The meaning of CEO extends

This definition nomenclature of executive positions in companies does not end here. Many of these terms did not exist a few years ago, and the increasing specialization of departments in large organizations gives rise to new positions, which after the meaning of CEO and the other positions that we have seen evolve into new figures such as the CSO (Chief Science Officer), CCO (Chief Commercial Officer), CLO (Chief Legal Officer) among many other definitions of executive positions.

Leave your vote

Continue Reading

Startup News

Coworking: Need or Opportunity?

Many times when it comes to undertaking we see that there are a great multitude of impediments that stop our initiative.

One of the most obvious, especially in times of crisis, is financing. That is why a work modality called coworking has proliferated in Spain for a few years. But what is coworking?

The foundation of coworking is to bring together professionals from different fields in the same space where they can develop their activity, which means significant cost savings. In other words, it’s like having roommates with whom you share expenses.

Surely, you have heard a friend talk about a coworking space, collaborative work, cost savings, … So far great, but the philosophy that underlies this type of work is even broader. The work tends to be increasingly multidisciplinary and many times, as entrepreneurs , we cannot cover the requests of a potential client.

We are going to put an example. Let’s imagine that we are a freelance professional specialized in Online Marketing and we have several accounts as a Community Manager.

As you are self-employed, but you are not motivated either by being in your pajamas all day locked at home listening to music, or worse, some gossip program that they give in the morning on TV – not to mention going to work in a library where the WIFI is slower than on your first Smartphone – you decide to try a coworking space where you have all the comforts for a small price and from which you can always “run away” if things don’t go well for you.

One fine day comes the opportunity to create a Social Media plan for a company. Within this Plan the creation of a corporate blog, the creation of videos,… to which you obviously answer: “no problem!” Is contemplated, since it is an opportunity that you cannot miss.

Once you dismiss the client, you sit in your chair and a cold sweat starts to run down your forehead thinking “now how do I do all this?”

From its programming, database creation, corporate identity creation … to the creation of promotional videos and a long etcetera.

Suddenly you raise your head like a meerkat in the African savannah and you see Nika, that nice girl who is a web designer and a little further on you see Alfon, that “compi” with whom you go out for beer on Fridays when you finish ” currar ”and it turns out that in addition to working as an illustrator, he has a hobby which is making videos, especially for his friends, and on top of that, it’s really good!

Et voilá! You already have a fully qualified team to carry out your project… and who knows if a future company. This idea is what underlies the coworking philosophy : Being able to create flexible collaborative environments that adapt to the needs of projects or clients.

Obviously, cooperative work has its advantages and disadvantages. Creating a multidisciplinary team for a project can be complicated, since managing the team is not an easy task when the participants do not share a mutual philosophy or common goals. Therefore, it is important to create a team that complements each other both on a human and professional level, and above all that wants to move the project forward.

From my own experience, if you want to develop your own project and do not have funding , it is better to make it very clear to the participants the delivery times and what their role in the team is. Otherwise, you will end up spending more time trying to coordinate people than working directly on your project.
“Luck is what happens when preparation and opportunity meet and merge.” Voltaire

Leave your vote

Continue Reading

Trending

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.