The evolution of the finance sector had a high point in the last two decades with the digitization process carried out by several entities, such as banks or brokerage firms, among others. However, several of the digital environments created did not always provide innovative ideas in themselves, but rather facilitated various operations (valuable, of course) by automating them. But the emergence of new companies, the FinTechs, has changed the landscape. Although they occupy part of the market niche, their aim is not to do the same thing in a different guise. On the contrary, their reason to be is to make it easier for innovation and technology to bring new solutions and adapt existing ones to a different society than 20 years ago.
Communication in investments
The role of the customer is a good example of this. Today, the users like to be informed. And they have better means than before to do so. They make their own decisions and are tired of receiving heavy commercial communications. On the contrary, theyprefer to choose themselves what they will do with their money. In the area of investments, it is no different. The traders identify themselves better with a more active role. They wants to educate and inform themselves, to acquire knowledge and resources. Today, FinTech NAGA is a pioneer in some of these aspects. On the one hand, it provides its clients with various tools for training, with webinars, eBooks and other resources.
But it has also launched the concept of the social trading platform, a formula for the interaction of different traders within the platform. Through NAGA Feed, you can have contact and receive messages from other users to share thoughts, ideas or experiences, something truly innovative compared to more traditional models. In this customizable space, it is also possible to receive specialized and relevant news, which enriches the information about the assets in which to invest, as well as the detailed and updated graphics. On the other hand, the copy trading option is another way of having contact with the experience and knowledge of other more experienced traders, as you can copy automatically and with the limits you choose the different operations they carry out.
Innovating in the role of the customer
The idea that governs NAGA Trade is that the company provides a complete, simple and pleasant environment, and makes available to the user different tools and a complete customer service, but it is the customers who make the decisions based on the training and information they gather. Of course, its catalogue is extensive, with more than 1,000 assets with which to operate among which are forex, cryptocurrencies, indices, ETFs, stocks, among others. In addition, you can use a demo account with fictitious money to acquire more knowledge before trading with real money. With these options, the aim is to access a wider audience, not only experienced traders, but also others who are just starting in this world.
This is precisely one of the assets of FinTechs, which are already reaching a larger part of the population. When it comes to managing their own money, 84% of consumers in the UK already rely on FinTechs for this task. New forms of payment are also growing with the success, for example, of PayPal, which has greatly facilitated payments between citizens of different countries.
With contributions such as those of NAGA, these start-ups will continue to consolidate their model in the financial ecosystem, since today’s society values innovation and the fact that the services offered are adapted to their tastes, rather than having to do it the other way around, as is the case with some more traditional methods. Future technical advances will bring more innovations in the short term, and FinTech will be there to make them fit into a financial system that is constantly evolving and whose areas are increasingly open to society.
