FinTech is a Life Style

FinTech is a Life Style -FinOnion

金融科技是生活方式 – 商蔥

People have to adapt to technology, familiarize themselves with it before they make use of it. It is very much similar to those who were born in the internet age.

The Smartphone took a few years before the App Store and hardware reached its maturity and adaptation level.

FinTech has become a lifestyle instead of interrupting the financial industry. Those who were born after the 80’s are the pioneers of adapting the new technologies.

For those who were born in the 90s will adapt to FinTech as the new natural habit. It is very much like online shopping back in the early 2000s. Similar to smartphone’s penetration to one’s life. It will be there for your retirement saving, your wallet, your currency, your lunch money, your left over change and essentially your every day essentials.

Fintech in China is light years ahead of other countries

In China, WeChat has become a lifestyle for Chinese, it is very much like the facebook for other countries, but more, FinTech in China is light years ahead of other counter parts. WeChat become the payment of choice to split money with friends, Lottery and Chinese new year red envelopes.

The currency of the new economy is trust – Rachel Botsman

Users open WeChat app to check on friend’s Moments update, pay their bills and share their most private conversations with loved ones. Slowly, WeChat has become a lifestyle and the trust is also to be acquired, based on the security and trust as a foundation. People are more willing to do more on the platform. On the other end, the western lifestyle is mostly embedded with facebook and google products, but facebook and google their core business models are forms of advertisement. They will more or less struggle to gain trust from its users. Therefore the FinTech platform on facebook and google will take sometime to gain adaptation.

Next, we will talk about WeChat platform as a ‘must’ for Financial Technology and a Digital Marketing channel platform.

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