Meet Kenya, The Future Global Hub of FinTech Innovation!

America may not be the top dog anymore. Recently African countries have emerged as FinTech hotspots, through the development of inexpensive, accessible tech to help customers mobilize in more innovative ways.

According to The Harvard Business Review, "Simply defined, FinTech is the application of technology and innovation to solve the needs of consumers and firms in the financial space — think credit cards, online banking, and blockchain-powered cryptocurrencies."

This is one of the mot explosive and accelerated fields of the past decade. FinTech advancements allow businesses and customers to move more effortlessly with remote payments, app-based stock trades, and automated insurance claims. Everything is moving to tech-based platforms!

Portable Lessons From The Harvard Business Review:

First: successful companies live and die on bundled feature delivery.

Second: finance is about trust.

Third: look for technology enablers.

In order for the US to catch up they will have to make some internal changes. The first change is increasing the financial literacy among individuals and businesses. The second change is the personalization of needs and delivery. These changes and lessons will allow flourishing developments in the FinTech area for more growth.

Check out the full article here!