Fintech companies are improving the financial industry and the broader economy. These companies are adding new value to businesses and customers in areas ranging from lending and banking to payments and invoice funding.
This positive change is confirmed by the overall growth rate of the Fintech Market. The market is forecasted to keep growing at a 22% annual rate bringing it to a total valuation of $305 billion by 2025 (Market Data Forecast, 2020). Remember, the goal and competitive strategy of Fintech is to create, optimize, and advance technology that makes financial services more efficient, accessible, and personable.
What does this mean for a small business owner?
Frankly, it means lower fees, better customer service, and tailored efficiency since most Fintechs are focused on serving the small business owner.
If you’re not already working with a Fintech partner, you’re missing out. This article briefly outlines five (big!) benefits a small business owner gains from deciding to partner with a Fintech.
And we’ll highlight a few great companies that continue to show value for their clients.