Accelerated technological development has made Fintech grow immensely in the last few years. In order to fulfill their potential at an international scale, Fintech companies need to comply with regulations and understand customer needs across borders. In this free resource, we’ll explore the particulars of Fintech expansion, and why localization is the key to global success in this industry.
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Fintech is growing at an unprecedented rate and on a global scale. With a cumulative worth of over 187 billion US dollars, financial technology has become a globally relevant industry. In fact, according to CBInsights, the industry is expected to reach over 26.5 trillion dollars in value by 2022.
The Financial Technology (or Fintech) sector is a diverse and complex industry that aims to disrupt numerous aspects of finance. From personal banking to investment, to currencies themselves.
Addressing the needs of underserved demographics, Fintech can be beneficial on an international scale. And it’s not odd for ideas that originate in one country to be improved upon in another. Fintech is evolving thanks to digital communities, decentralized ecosystems, and unrestricted knowledge sharing. The fintech sector as it exists today is the product of an era in which information, technology, and capital flow across borders. Development in this area isn’t exclusive to a few countries in the Global North. In fact, Latin America is an extremely promising region for Fintech-related VC funding.
Like any industry with such an impressive growth rate, Fintech is extremely promising and extremely competitive. For a Fintech company, expansion is a complex process that involves numberless factors. From ensuring that their product complies with regulation, to finding the best way to communicate its value to a new audience.
Building trust is critical to the progress of Fintech industries. The client must feel that the information they receive is clear. So, communication shouldn’t be an afterthought. And all interfaces, learning materials, and guides for your product should be flawlessly localized.
But how can you gain the customer’s trust? What do you need to expand the reach of your product? Integrating localization as a business practice is crucial for global expansion. And more so in this sector.
In this free ebook, we explain everything you need to know about the Fintech industry, why localization is a key process, and how to choose your language partner.