Innovative Examples of How Fintech is Used

The smart technology revolution is leaving no industry unchanged. People can still buy things today the way they did a decade or two ago, but that window is closing as the digital world nears a full takeover.

Fintech, or financial technology, is transforming how people do things like make payments and money transfers. Some of the most widely adopted platforms use innovative technology that’s becoming the standard, as rivals mimic what’s proven successful.

Let’s check out some of the most dynamic innovations in fintech today.

Secure, Game-Changing Real Estate Tech

Buying a home doesn’t require you to have a relative who works in the real estate sector anymore. Regan McGee built Nobul to give homebuyers powerful AI tools to tilt the playing field in their favour. 

Tell the platform your budget and what you’re looking for in a home, and their proprietary technology goes to work sending you curated listings. Nobul incentivizes agents to offer clients cash back or other free services, so users can peruse their profiles and connect with the agent they prefer. 

It’s all in their control and secure because all communication runs through the app itself. Agents never get users’ phone numbers or addresses, so this sensitive information can’t get into the wrong hands. 

AI Bots for Assistance

You’ve probably seen an increased AI presence in fintech platforms. Companies realized that many of their customers have nearly identical questions with only slight variations.

Having an AI chatbot assist customers is more efficient because fintech companies save on labour costs. Banks and other financial institutions found that AI bots better inform clients than FAQ pages. 

Plus, unlike employees, chatbots are available 24/7.

Digital Only Banks

Banks used to sit on prominent street corners, often with Greek-inspired columns or ornate facades. Today, digital-only banks constitute the most direct form of fintech. 

A digital-only presence means less infrastructure and labour costs, so these banks can offer clients better rates. Banks that do have a physical presence are feeling the pressure to compete.


Cryptocurrencies may be a controversial topic, with some saying it’s the future of money and others saying it’s a Ponzi scheme. However, the underlying blockchain technology itself is sound, which is why banks like JP Morgan, Wells Fargo and others use it to provide various financial services. 

A blockchain is a decentralized ledger where a peer-to-peer network mutually verifies and validates the transactions. Blockchain technology confirms transactions without needing a central clearing authority.

It can be applied to fund transfers, settling trades, voting, and more. Major cryptocurrencies like Bitcoin or Ethereum tend to get the bulk of the headlines, but however they rise or fall, the underlying blockchain technology is here to stay.

Fintech is expanding rapidly, and some leaders are creating wonderful new inventions or applying old ones in new ways. It’s an exciting time for disrupters and consumers alike! Look out for the above innovations as they continue to evolve while helping you save money and make purchases more easily today. 

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Editorial Staff at TechWaver is determined to inform their users regarding the latest tech news, tips & hacks, software & product reviews, and much useful information from all over the world.

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