We explain everything you need to know about online financial platforms.
Learn about the risks of this type of platform.
The digitalisation of society is unstoppable and has accelerated with the pandemic. The digital revolution is paving the way for fintechs to develop more and more online financial platforms . These fiji email list compete without complexes with those offered by traditional banking, which is immersed in a complex restructuring process .
Open banking is liberalising banking and financial information, facilitating a greater offer and personalisation of financial services , which fintech companies are taking advantage of to occupy market niches with their online financial platforms.
With the entry into force in 2021 of the new PSD2 (Payment Services Directive) regulations, the doors have been opened to the development of online financial platforms , which organize all the data of their clients' financial products on a single platform. A space that the banks themselves are also trying to occupy. How? By making it easier for users to access their websites to consult their positions in other financial institutions.
Virtual wallets are an alternative way to make payments and collections quickly and safely. They are usually used to manage small but frequent transactions and can be used from a mobile phone with an Internet connection.
E-wallets are usually fee-free for transfers between wallets, to encourage their use. However, they do charge fees for transfers to a bank account.
Among the virtual wallets is Paypal , which is one of the best known virtual wallets. This method is mainly used as an alternative method to paying by credit card . In the case of Paypal, the person who pays the commission is the recipient of the money.
Online financial platforms for trading cryptocurrencies
Cryptocurrencies are digital means of exchange that make the so-called Internet of Value possible. Through applications that facilitate their exchange, the exchange of value in the form of cryptocurrencies is facilitated.
Cryptocurrencies use strong cryptography to secure transactions, control the creation of additional units, and verify the transfer of assets.
Cryptocurrencies are controlled by a decentralized database, or blockchain . It serves as a public database of financial transactions.
The first cryptocurrency to begin operating was Bitcoin in 2009. Since then, other types of cryptocurrencies with different characteristics have appeared.