Every now and then, I travel across the world of emergent technologies. My passport has been stamped so many times for my visits to the wonderland of IoT, cloud computing, virtual networking, containers, microservices, cybersecurity, virtual machines and financial technology (fintech). Today, I was sitting in the middle of the Amazonia jungle drinking a local sugarcane juice on a drizzly, warm day, and watching the parrots and monkeys passing by. This spectacular scenario was taking away my breath. I was enjoying the amazing natural monument of an uninterrupted waterfall in front of my eyes. Then, unexpectedly and in my mind, I found myself looking at the rise of the name “fintech,” which was climbing so high, reaching beyond the top of the waterfall.
This could be seen as a metaphor for fintech’s remarkable ascent. To me, fintech is the right approach for managing and controlling your own money and your company’s money. It is important to understand that fintech is here to stay. Fintech is a fast-paced, flourishing industry that deals with digital banking, financial chatbots, cryptocurrencies, mobile payments, online brokerage services and many other innovative financial technologies. It is extraordinary to see the accelerated growth of this industry based on the billions of dollars invested on fintech companies worldwide.
The three pillars of success or failure of a fintech organization are fintech risk management, fintech governance and fintech innovative solutions:
The Three Pillars of a Fintech Organization
For further details on the first two pillars, take a look at “A Fintech Risk Assessment Model” and “Defining Fintech Governance Levels.” Both were published in English and Spanish in the ISACA® Journal.
To conclude, fintech is a “revolution” that is transforming the financial systems across the globe. Whenever you get some free time, I encourage you to explore further and learn more about how you can benefit from this innovative industry.