Consumer awareness and expectations are constantly growing. This also applies to financial market consumers. Companies wishing to keep up with their customers have been forced to switch to the use of the latest technologies, including the mandatory presence on the Internet. This change gave rise to all loan companies, which are an excellent example of the dynamic development of the financial technology industry in Poland.

What is financial technology?

What is financial technology?

For several purely formal reasons, there are some problems with creating one simple definition of financial technology. Despite some disputes between specialists dealing with this, one can make a fairly general statement that financial technology is in fact a new sector of the economy bringing together enterprises from the financial sector, which have clearly developed their technological capabilities. Therefore, these enterprises combine the possibilities of the financial and technology industry, but provide services only related to finance.

A perfect example of financial technologyu loan companies are providing their services via the Internet. The loans they grant via the Internet, without the need to provide special certificates, are an exemplary service in this modern industry. Her unofficial motto became the slogan of unlimited access to financial services, regardless of time and place, which results directly from the current expectations of consumers themselves. And these expectations are considerable.

Expectations towards the financial sector

Expectations towards the financial sector

As research shows, consumers of financial services have increasing expectations regarding the availability of both funds accumulated by them in bank accounts, as well as funds that can only be obtained from a selected financial institution. Non-cash transactions, paying with a smartphone and the possibility of borrowing via the Internet have already become the norm. Companies which perfectly combine a high technological level with financial services in an old, good style, deal particularly well with the latter.

 

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