In the UK, when many people think of FinTech, they think of complicated computer algorithms and sprawling investment banks – how could it possibly have anything to do with them? In fact, FinTech is having important impacts on everyone’s lives, regardless of age, wealth or experience. Next time you are at a bus or train station, take some time to look at some of the ads and you will see prime examples of impressive FinTech applications promising to do away with overdraft fees for good, or offering access to investments that were previously the preserve of pension funds and big financial institutions.
FinTech firms are presenting a serious alternative to mainstream institutions. The development of app-based banking has raised the bar when it comes to customer experience, providing a cheaper and more streamline experience to managing your money. This increase in competition has forced larger banks to adapt to in order to keep their custom, meaning that you, the consumer, stand to benefit!
Another great opportunity for consumers is the way that it has revolutionised investing. The investment industry has seen a great change over the past 50 years or so. It used to be that you identified a stock for sale in the local paper, then got in touch with a stockbroker, who then executed the purchase for you – a process that could take hours if you were lucky. This was also very expensive, since you needed to pay your broker to keep answering your calls and execute your trades, usually through commission. Then, with the dotcom boom, investments started to be offered over the internet. This offered a cheaper alternative, but investors were still limited to certain types of investment and labyrinthine fee structures ended up chipping away at profits investors made. This was not an easy process for novice investors to navigate, with little behind the scenes to show what they were actually investing in.
Here at Yielders, we knew we could do better. We knocked our heads together and came up with a plan to use FinTech tools to open up investing for everyone. As a result of our innovative platform, people can invest in a piece of real estate for as little as £100, an idea that would have had the stockbrokers of the 80s laughing. We are an ethical investment platform, so we will never mislead you about fees you will be paying as a result of investing with us, nor will we ‘pump up’ any figures to show unrealistic returns. All of our investment opportunities are ethical (no weapons or fossil fuels for example) and transparent – you will always know exactly where your money is going and how much you will be paying to invest with us. As the first FCA authorised Islamic FinTech in the UK, you can have confidence in us to play by the rules. We are trying to change investment for the better by prioritising the you, the investor, which is how it should be.
Get in touch with us today to find out more. Contact us : firstname.lastname@example.org or 02072054650
Capital at Risk – The value of your investments can go down as well as up. This article does not constitute financial advice. Investors should always do their own due diligence before making an investment.