What Google Can Teach You About FinTech

Feb 2018 | Team Rubique

Google is almost 20 years old. In these two decades, it has become one of the most popular tech companies in the world. So much so that we use it every single day. Hence, I don’t think one can deny the huge impact that Google has had on the world. So many of our mobiles run on Google’s operating system, we use the Google browser every day and whenever we can’t find the way we fall back on their Maps. This is what makes me feel that there’s a lot that Google can teach us. Take for example FinTech. It’s a technology-based product aimed at improving everyone’s lives. One cannot deny the similarity that FinTech has with Google. Both disrupted their industries and made things more accessible to people.

It is this similarity that reveals that Google can teach you a thing or two about FinTech. While Google has already established itself, FinTech is still growing and has a lot to prove. But, what is certain is the fact that FinTech is destined for a brighter future. So, here are a few things that Google can teach you about FinTech.

The Reason Why Google Can Teach You About FinTech

Google was a novel innovation just like FinTech is. And, to a certain extent, Google too was created out of necessity rather than a luxury. People were at a point where they had internet and it had the power to make a lot of things accessible to everyone. Google saw the chance and fulfilled this void. Similarly, when FinTech companies started to offer their services to people, the banks were not that forthcoming with loans. A lot of things including recessions and economic crises forced the banks to impose heavy regulations. So, the banks could not serve a lot of customers. These FinTech companies offered them loans that the banks could not.

So, in a way, both disrupted their respective industries and empowered people. You cannot ignore the power Google has nor the fact that we need it almost all the time for something or the other. It has become a necessity. Banking too is a similar necessary service. In fact, FinTech has helped promote banking and inculcate it in places that were previously unbanked. People living in rural areas can now use the Internet to bank online.

Making Things Easier

When Google emerged, its sole purpose was to make people’s lives easier. Now, if you wanted to know something, you could just Google it. That’s how you searched for people, information, and businesses. Prior to this, you would have to search manually in telephone directories, yellow pages, and what not.

FinTech too has made banking easier for people. Prior to FinTech people would have to spend a lot of time going to banks, preparing cheques, getting their documents ready. In a nutshell, they had to spend a lot of time and energy in order to go to banks.
Now, banking comes to you. FinTech has given you the opportunity to bank online. From sending funds to paying bills, you can do all of this on the internet, from wherever you want to. The same convenience that Google has granted us is what FinTech is giving us now. It makes everything quicker and easier.

Changing The Way We Think

Google provides a host of services via Gmail, YouTube, Docs, Maps, etc. It has revolutionized so many things. It has changed the way you send emails and collaborate with people. This has greatly benefited businesses, freelancers and a lot of other people. By offering every service from Docs to Mail under one single umbrella, syncing and sharing work is no more a hassle.

Similarly, FinTech too has allowed you to control your bank account. It allows you to do everything you want. Not only that it has helped grow a lot of small businesses into flourishing larger ones thanks to their relaxed lending systems.

People who are newly employed or do not have stellar credit scores too can benefit from FinTech companies. They can get personal loans to improve their credits scores or pay off credit card debt if they want to. There’s simply no hassle or rejection involved. Your get loan approval in a matter of minutes.

So, what Google can teach you about FinTech is that people like personalized services. They prefer to get information as fast as possible. In this case, it is the array of banking services that FinTech companies offer. It is simple, yet it is efficient. Just like Google is.