Why Rati Tchelidze Wants Students To Join The FinTech Industry
The viability and potential of Financial Technology (Fintech) in the modern world are too immense for any potential student to ignore. There are many apprenticeship opportunities within the FinTech industry open to students of all verticals offering an excellent learning ground for anyone looking for a career within one of the strongest industries in the next decade. We asked the Founder and CEO of Axios Holding, Rati Tchelidze, to explain a bit more about the different verticals of the FinTech industry open to apprenticeships and give his thoughts on why students should consider a career within the FinTech Industry;
The FinTech industry has experienced tremendous growth in recent years and is undoubtedly the future of the financial and banking system as the world is moving towards a cashless economy. Fintech redefines the scope of traditional banking systems and has added new and more innovative players in the financial sector. Such has led to cutting-edge financial solutions suited to modern lifestyles such as the distributed ledger technology and blockchain, the convenience of mobile payments, marketplace lending, secure digital currencies, peer-to-peer lending, and so much more!
The rise of non-traditional financial providers is changing the financial environment and diversifying opportunities within the economy. The lightly regulated non-bank enterprises are more willing to experiment and offer specialty financial services, thus increasing market efficiency. Gradually, fintech is eliminating the limiting barriers associated with traditional financial models and, as a result revolutionizing business models, market positioning as well as the value chain.
The FinTech industry consists of several independent sectors, all requiring different skills and education. While most FinTech companies are specialized within one of the sectors, some larger companies, like Axios Holding, oversee the entire industry and establish smaller companies within each of the different verticals.
What is a Fintech Company________________________________________________________________________________________
Financial technology describes innovations that seek to support financial services. A fintech company is one that utilizes specialized software and algorithms in managing its financial operations and processes. It includes any financial operation from mobile payment apps, Robo-advisors, investment apps, and even cryptocurrency. The majority of fintech products today have been designed to connect consumers’ finances with technology. Its simplicity of use has broadened its scope to retail banking, financial education, fundraising, and investment management.
Initially, fin-tech was applied to technology at the back-end systems of banks and other established financial institutions. It also included activities such as international money transfers and depositing cheques using a smartphone. With time, it grew and evolved to become more consumer-focused and, therefore, a more consumer-oriented definition. Today, anyone can trade stocks, manage funds, and insurance through fin-tech technology. Here are some of the main verticals of the FinTech industry;
Banks have adapted to mobile banking, which is a large part of the fin-tech industry. Most consumers prefer easy digital access to their bank accounts using their smart devices. This has come in handy, especially with the rising number of neo-banks.
Budgeting apps for consumers have become very popular over the years. Fintech has enabled consumers to keep track of their income and expenses. It has also helped change a lot about how consumers think about their money.
Robo-advising has helped increase efficiency and lower costs by providing an algorithm-based asset recommendation and portfolio management. The availability of advanced technology that can analyze portfolios anytime has enabled financial institutions to offer online Robo-advising services.
Machine learning and trading________________________________________________________________________________________
Fin-tech has made it easy to predict where markets are headed. Algorithms designed to spot trends and risks help in running massive amounts of data.
Crypto-currency and blockchain________________________________________________________________________________________
Cryptocurrency and blockchain can be described as controversial uses of fin-tech. The two are still mistrusted by some financial institutions and even some organizations outside the financial sector.
Block-chain services such as block verify help in reducing fraud by holding provenance data on the blockchain. Cryptocurrency exchanges like coin-base and Gemini match buyers with sellers of Bitcoin and Altcoins.
Fin-tech has partnered with insurance companies to automate processes such as mobile car insurance, home insurance, health insurance, and data protection through the insure-tech platform.
This is one of the biggest innovations in the fin-tech space. Investors can buy and sell stocks at the tap of a finger through the stock trading apps. There are also low minimum apps such as Robin-hood that have made investing with any budget and from anywhere possible.
Benefits of a Fintech Hub________________________________________________________________________________________
A fintech hub is a meeting point for all fin-tech activities within a region or a network. It comprises the entire infrastructure, organizations, and people within the hub.
A fintech hub helps nurture a culture of innovation that helps attract and retain talent on a global scale.
It also facilitates start-ups in accessing capital to assist them in developing and growing their ideas. They can source capital from private investors, government, or corporations. They also help in funding initiatives such as sandboxes, incubator programs, and non-profit accelerators.
Community-run platforms also enable low-cost services and attract a wide range of uses.
About Axios Holding________________________________________________________________________________________
Axios holding fathers companies with online verticals such as online payments, technology, education, lending, brokerage, and liquidity. Axios aims to create an accommodative fintech hub by developing products and services from scratch or nurturing ideas.
Axios has partnered with companies in related verticals to expand educational platforms, investment platforms, user engagement platforms, brokerage and liquidity, and KYC & ID verification.
To attract and retain customers, Axios provides the necessary knowledge about different products and services using their intuitive educational platform. According to Axios Holding, education is the most strategic way of giving back and empowering people to make informed decisions and their organization is open to apprenticeships within several verticals. For more information on a career at Axios Holding click here.
Through the edu2co platform, Axios offers a customized educational solution for brokerages all over the world. It has a collection of educational tools, e-books, and 15 online courses with 300 lessons taught by financial experts and is translated into over 30 languages.
Axios has also been proactive in offering unique technology-driven educational solutions catered to brokers who want to use customer training to increase returns on their marketing activities for the past six years.
From the endeavors of relentless fintech operators like Rati Tchelidze, they’ve been able to carve out a niche in the areas under-served by traditional banking and are also able to offer focused solutions hence increasing trust in modern banking and financial systems.