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What Is Fintech?

FinTech is short for Financial Technology, and it refers to the integration of technology into offerings by financial services companies to improve their use of financial services. FinTech encompasses a broad range of applications and solutions that make financial services more efficient, accessible, and user-friendly.

Products Supporting Fintech Industry

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A2P SMS (Application-to-Person Messaging)

  • Relevance to FinTech:
    • Transaction Alerts: FinTech companies can send real-time transaction notifications and alerts to customers, enhancing transparency and awareness.
    • Authentication: SMS can deliver One-Time Passwords (OTPs) for secure authentication during logins and transactions, helping to prevent fraud.
    • Marketing & Promotions: Allows businesses to send promotional messaging about new services or apps directly to customers.

Global Voice

  • Relevance to FinTech:
    • Customer Support: Provides a clear communication line for customer service representatives to assist users with inquiries about their accounts, transactions, or services.
    • Verification Calls: Businesses can use voice calls for account verification and high-value transaction confirmations, adding an additional layer of security.
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Digital Chat Apps (WhatsApp, Zalo, Viber)

  • Relevance to FinTech:
    • Instant Communication: FinTech companies can engage with customers in real time, answering queries about transactions, services, or troubleshooting issues.
    • Document Sharing: These apps facilitate the sharing of documents, such as account statements or transaction details, directly through chat, easing communication.
    • User Engagement: Businesses can send updates, news, and relevant financial advice to maintain a strong relationship with clients.