A portmanteau of the words “financial” and “technology”, fintech refers to innovative applications, platforms and services that companies provide to improve, simplify, or disrupt the way financial operations and processes are managed.
Where it was once used to describe backend systems employed by large banking and financial institutions, fintech is extremely consumer oriented today. Applications and platforms are designed to be highly accessible where most end users can easily navigate at the end of their fingertips.
What's in the Space of Fintech Offices
With the new and innovative ways fintech companies run their operations, they are likely to invest more in a workspace that supports their business model and workforce, especially in terms of IT infrastructure.
Tech businesses need a set of reliable IT infrastructure to ensure secure and seamless running of their day to day operations. They take into account the initial setup support, plug and play solutions, responsive helpdesk support, auxiliary solutions for increased security and more. For these reasons, the flexible office space is becoming a preferred workspace for growing fintech enterprises and startups for its tech-enabled capabilities and business-ready environment from day one.
For more information about customisable enterprise-grade IT infrastructure and tech-enabled flexible office space solutions, send us an enquiry today.
The Fintech Ecosystem in Asia
Is Asia taking the lead in the global fintech industry development? Some of the most technologically advanced regions are in these parts of the world, with tech giants and competitive firms growing along with a steady climb of fintech adoption.
China and India continue to dominate as the largest fintech ecosystems in the world, whereas Japan and Australia are swiftly on the rise. In Hong Kong, the recent Fintech 2025 strategy announced by the Hong Kong Monetary Authority (HKMA) will be a key to propelling the city’s comprehensive tech adoption in the next 4 years.
In Southeast Asia, fintech is seen as the key to financial inclusion, and the growing demand for innovative services is a great indicator that the market, which is vastly untapped, is ready to boom. Within the region, Singapore is at the forefront of the fintech space, given the friendly business environment and supportive fintech regulations, making the republic one of the world’s best places to base fintech ventures.
Fintech Trends & Opportunities
According to techjury, there are an estimated 3.5 billion smartphone users in 2020 worldwide, out of 7.9 billion of the world’s total inhabitants today – that accounts for a large market opportunity where the fintech industry can tap into.
EY’s Global Fintech Adoption Index 2019 revealed that the global consumer adoption of fintech is at 64%, where 3 out of 4 consumers uses fintech payments and money transfer services.
Digital financial services are seen to improve financial inclusion and increase financial literacy, reaching depths that traditional financial institutions would miss. With fintech adoption on the rise, the industry is constantly finding inventive ways to penetrate the market. Among the popular focus areas for fintech include payments, insurance, digital wallet, virtual banking, blockchain and cryptocurrency, security and compliance, as well as investment tools.
Fintech Office Solutions
In this evolving business landscape, fintech businesses require a workspace that comes with the flexibility to respond to change, while maintaining a reliable connectivity for uninterrupted operations.
Compass Offices provides flexible terms based on client preference, from a month to 1 or 2 years, fitting business plan and budget.
We are a specialist in design and build, and can provide enterprise solutions as well as bespoke IT tools and services tailored to client’s needs. We provide a corporate fit-out with signature business lounge and café, meeting rooms, reception services, fully supporting businesses in a professional corporate setting.
Our diverse team of experienced multicultural professionals are dedicated to meeting clients’ business needs.
Get to know our full range of workspace solutions and offices features. Send us an enquiry.