FinTech at iTizzi Software Development Company, Kyiv, Odesa, Ukraine

Simply put, FinTech is a technological or financial innovation that results in new applications, business models and processes that are used by banks, start-ups and businesses on a daily basis. What is part of the FinTech sector and with which elements do we contact every day? FinTech products are used across the many industries and economies that make up the financial sector. Some FinTech solutions used by iTizzi Software Development Company, Kiev, will be presented below.

Services of the company iTizzi, Odessa in the field of FinTech services

Blockchain and cryptocurrencies

Both blockchain and cryptocurrencies are FinTech solutions. Blockchain is a technology used to store and transmit information about transactions concluded on the Internet. Information is transmitted in the form of data blocks that form a chain. Blockchain software development is used in lending platforms and applications supporting cryptocurrency buy and sell transactions.

Crowdfunding platforms

Crowdfunding is a modern method of raising capital necessary for the implementation of an innovative project. Entrepreneurs present interesting business ideas and ask for financial support. Sometimes they give out gadgets or other offers related to their project in exchange for a donation, sometimes it is also a part of future profits. The goal of developing crowdfunding platforms is to provide the ability to conduct an advertising campaign in one place, where funds received from other people are immediately accumulated. It should be noted that crowdfunding is increasingly being chosen when creating startups as an alternative method of financing their activities.

Many crowdfunding platforms have been created over the years. The most popular are Kickstarter, Indiegogo, Patreon, and Beesfund. Kickstarter was founded in 2009 and has enjoyed great popularity ever since. More than 11 million users have funded projects using this platform, contributing a total of nearly $2.5 billion. Startups, scientists, and lesser-known musicians and artists publish their projects. When launching a campaign on the platform, you must define a goal in terms of the amount required for the project and the collection date. In case of a successful project, the platform charges a commission of 5% of the value of the collected funds.

InsurTech

InsurTech is one of the divisions of the FinTech sector and represents all the innovative technological solutions used in the insurance industry. At the moment, there are several main areas, including auto insurance, health insurance, social insurance and brokerage services. Companies and startups working with iTizzi, Dnipro in this market are striving for complete digitization, automation and offer many products that automate the process of choosing the right package and concluding an insurance contract.

Robo Consulting

Robo-consultants are one of the development tools in the field of artificial intelligence. The developed algorithm manages the client’s portfolio and automatically invests in accordance with his preferences. First, the client must determine his financial goal, set the horizon for the duration of the investment, accept an acceptable level of risk and indicate the amount he wants to invest. The algorithm then adjusts the strategy according to preferences and starts portfolio management. The program constantly monitors investments and can make changes to the distribution of assets in the client’s portfolio.

Budget apps

Budget control apps let you plan and control funds. The user keeps track of their income and expenses. The solution not only helps to simplify financial management, but also helps to collect savings.

Mobile payments

In recent years, there has been a dynamic growth in the mobile payments market. The data shows that in 2015, the total revenue of this service was US $450 billion, and in 2019 the amount exceeded US $1.18 trillion. Fintech mobile payments allow you to make non-cash payments using your smartphone or smartwatch using the appropriate application. FinTech solutions are gradually replacing debit and credit cards.

ITizzi, Lviv, Vinnytsia offers customized fintech products. iTizzi creates customized blockchain solutions and offers cryptocurrency development, AI solutions and technologies to create web services and web platforms for businesses, exchanges, casinos. ITizzi products help companies monetize traffic, increase the value of their websites and increase their competitiveness.