For many years, business owners have been investing their money in new ventures. The stock market is booming right now, and yet only 54% of Americans are earning their income with investments.
It was always the case that investing money was for the exceedingly wealthy, but times have changed. Banks have always gone for static and profitable business model investments. After all, they know that these business models work and they bring the money in. The issue that the banks are facing is in technology. Innovators like crowdfunding platforms, Bitcoin and Robo-advisers are all there to change the game of the finance industry. The newest fin-tech innovators are there to be a diverse choice in the financial field – something that is new for businesses and individuals everywhere. 
Understanding what the future holds for the finance industry is essential. Financial technology is making life better for businesses everywhere, making the stock market far more accessible than it ever has been before. Modern technology is shaking things up in America – and around the globe – today. In this article, we’re going to discuss how advanced technology is changing things up!
So, what technology is out there that’s changing the way financial teams work?
Robo-advisers
Believe it or not, robotics is taking a seat in the financial arena. People have always turned to financial advisers for their money advice, but when it comes to it, online platforms are often more accessible and filled with knowledge. The best bit? It’s all there for you at the touch of a button. There are plenty of resources online with lots of great robot info and advice for you to know whether you would be able to yield a profit in the markets today. With the advanced software algorithms available, robot advisers can build your portfolio for you and change your investments without you needing to do it yourself. There are no emotional decisions made: it’s all about accuracy and math – and you can invest smaller amounts, too.
Financial learning apps
The birth of the smartphone was the reason behind the birth of the financial apps for planning, trading and learning. These apps can turn beginner learners into experts. You’ll learn the basics of investing and then there are apps to help you to plan how to use your money. You can even buy into trading apps to sell stocks and buy them with no commission payable. These apps are on all smartphone devices, which means that you can check the stocks wherever you are! This enables your portfolio to remain on the right track. 
There are far more financial technology examples that we could give, but how are these innovative new additions to the technology that we use today going to help your business investments? Let’s take a look!
Highly focused products
Some of the financial technology on the market today can even replicate the banking experience, making them some of the most innovative products out there on the market. Given that banks are traditional in that they charge high fees, these new businesses that are developing banking apps are going to find a vast market for new customers. They will be able to create online banking with cheaper overseas money transfer and a smooth, user-friendly interface to do it.
Embracing automation
Technology in the financial sector means that businesses are able to embrace automation. Innovators in financial technology are automating manual processes that are currently costing companies money in human resources to manage. For example, we once relied on financial advisors for all that we needed, and now we are using the help of Robo-advisers to deal with wealth management and asset allocation. 
Robotic advisors can now offer the same services that a financial adviser can do but without the price tag attached. The software can be added to the computers that you are working on, and this is allowing those who are less wealthy to get the right financial advice and support. It’s less likely that any younger investors will go the traditional route of getting traditional advice when they can get what they need at the touch of a button instead.
Data is used strategically
The biggest asset for financial institutions of all kinds has been the data that their customers provide. For example, people cannot get loans or financing when their credit score says no. Insurers will check records to see whether you can get the right policy. Data is valuable, and it provides institutions with the information that they need to make a snap decision about whether you should have funding. People are becoming more connected with their devices, which means that data is being streamed in real-time now. This can help those creating new fin-tech to use this data to support future financial decision-making processes. The data gathered can be analysed to give lenders an extra layer of information to provide a borrower better credit-worthiness.
Insurance companies can use this type of data technology to make better pricing decisions and encourage those who hold policies to make better financial decisions overall. Technology can link devices to insurance companies, and this can give businesses the data that they need to make better and more informed decisions. For example, fitness companies can link the data collected by wristbands to insurance companies so that they can tell which policies suit their customers. Technology is evolving more than ever, and financial services companies can work closely with their customers toward better financial management.
Platform-based technology is cheap to run
The costs of online-based businesses are relatively low. This is because they can connect buyers and sellers and grow revenue without having to pay out massive overheads. Marketplace companies are giving financial service companies cause for concern, as they are pushing forward in a new way! With crowdfunding platforms now being hugely popular for businesses who want to gain financial backing, they are connecting people who want to make small investments with a range of investment targets. Financial institutions and banks can rarely come up with the same kind of innovative service because crowdfunding relies on the wisdom of the crows to choose whether a company will be funded or not.
Better security
Over the years, we’ve seen an influx of biometric technology emerge onto the financial market, and it makes sense. You and every other business out there want to ensure that your money and your interests are safe. So, fingerprint sensors work for our smartphones, and biometric technology that scans the eyes and handprints to get you into secure systems is essential. With secure communication channels in the financial industry, people trust your business. Keeping communication channels between you and your customers secure is imperative if you want business continuity, and this is why technology is going to help your business to invest better. When you know that fin-tech is going to benefit your business, you want to invest in it to ensure that you have the very best for your customers.
Financial businesses are a target of cyberattacks, and the reasons are apparent. With the right technology, companies can ensure that they are safe from cyberattacks externally and internally. Hardening the network and ensuring that you are monitoring your systems manually will ensure that your business remains protected.
Technology allows for omnichannel banking
There are plenty of digital channels that are changing the way that customers are using their banks and the way that they link with other businesses. Omnichannel banking ensures that everything from loans to business investments is taken care of online without having to go into an actual bank. This way, you can consistently access your money and make sound financial decisions without having to go out to the bank to do business via meetings. This is a more efficient way of investing money. You can make better decisions when your access is open to your own money, and when all digital channels are brought together, this makes it easier! A huge range of services is available for those who want to use their banking more efficiently online. With the integration of third-party services, you can use fin-tech to automate your finances and add more to the digital banking features that you are using.
At the moment, business investments are changing. Technology is changing to accommodate it and make investments more accessible to everyone. The Robo-advisers and apps, better security and efficient platforms are all working together to encourage growth within the stock market. There are many advantages of technology that will affect your business investments, and the more you know, the better your chances are later on to look at your finances. 
If you need help with your business investments, look at how technology can help. If you can get the best advice from the robotics of today, you will be able to work more efficiently with your finances and manage your investments more straightforwardly. Take the time to do your research here, and you’ll see how fin-tech can benefit you.