Cryptocurrency basically refers to a form of digital currency that is used for trade, it’s a decentralized form of currency meaning no particular bank or even government can claim ownership. The most common cryptocurrency is the Bitcoin invented by Satoshi Nakamoto. Other types of cryptocurrencies include the Litecoin, Zcash, Ripple, Ethereum, Dash, and Monero. The use of these cryptocurrencies is becoming an integral part of the finance industry
Another technology used in the finance industry is the use of Digital Wallets. This is a device that enables one to carry out electronic transactions. A good example is a cryptocurrency wallet which basically allows individuals to keep, receive and send digital currencies like bitcoins. There are over six million digital wallets which show how vast FinTech is spreading around the globe. They offer an alternative and convenient way to carry out transactions.
Payment Gateways & Virtual Banks
Payment Gateways are services that are provided by merchants to facilitate credit or debit card transactions or direct payments by individuals and businesses. The payment gateway service can be provided by a bank or other financial institution to their customers, or by a payment service provider such as Paypal. While a virtual bank is a financial institution which carries out all the banking transactions through the internet (virtual) and no physical branch required.
Reporting Apps for CFO
CFO reporting applications are applications that are used by businesses to monitor their cash flow. Managers and Financial officers can monitor real-time business performance and determine how to maximize profits based on the relevant cash flow information available. Finance Reporting tools are priceless. If one is ready to make initial investment for the custom application solution, can expect a vast return in the future.
DASGlobTech adding values to the Finance Industry by providing FinTech App Development Solutions.