As Fintech broadens its offerings, they are expanding their global footprints. The use of technology and innovative business models in financial services is spurring new competition throughout the globe. While SME’s on the other hand account for more than half of the world’s GDP employing 2/3rd of the global workforce. SME’s use fintech excessively in order to manage cash flow and hedging foreign exchange risks.
Fintech embodies a set of solutions that are effective and very efficient for small businesses. They ensure rapid growth, sufficient investor capital, financial education etc. The momentum with which Fintech is growing and at the same time acting as a catalyst for growth is tremendous and may spread to the rest of the world in coming years.
According to World Economic Forum,
“From 2013 to 2014, equity investment into FinTech companies has quadrupled from $4 billion to more than $12 billion.”
Fintech helps small and medium sized businesses to get established, scale and thrive by providing them payment processes, funding, money transfer and serve better.
International business capabilities include a firm’s integration, building, reconfiguration abilities and to address internal and external competencies. Operating in different currencies also helps support SME’s all over the world. Cross border transactions bring international business hence building international business capabilities.
At the point when organisations transcend national boundaries, businesses need to coordinate their assets in a more skillful manner to successfully manage differences in the local and foreign markets.
SWIPE following the right path is on the way to revolutionary changes and being a support to the other SME’s. Swipe is currently in the process of allowing our merchants to accept US Dollar, Euro, Japanese Yen, British Pound, Australian Dollar, and 14 additional currencies. 135 currency enhancement will be included in Swipe’s offering. Its efficient machine learning technology keeps up with the security standards to prevent frauds avoiding financial crimes in real time.
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