Finance-The changes in 2021

Fintech has changed the way we do banking. It has shaped and arranged the way of financial handling that was earlier much complex and time taking. But, it has never been enough for us humans. So, we try and try to be more and more efficient and effective and better than we were.

No, financial institutes are very less tangled and people’s dependency upon the bank and its people has been very low. The scenario is completely changed. No one now has to stand in a queue and wait for their turn to withdraw or submit their cash. It is all digitalized. And why wouldn’t it be after all the first main element of achievement and success was for PayPal in 1999? The innovation that changed the era of finance forever.

Now it is 2021 and there have been many changes. And it's digital and very much helpful. The face of finance and banking was just changed in terms of money management and making the transactions much easier and convenient. Now, the face of loans has also been changing in terms of fintech application development and transformation.

Money Lending Applications

There are many such organizations that lead this evolution of loaning money to the people and making the financial loan system much better and easier for people. Now, no paperwork or mortgage or security was about to take place, just a few identification proofs are all you need to get a loan.

In India, it has been trending now very much. It was first introduced in Canada in 2005 by peer-to-peer lending. Later the idea expanded and reached all around the world. But, is it enough?

Credit card bills and payments

What is next? Does it need to get more innovative and flexible and hassle free?

Oh yes! It does. Now there has been credit card bill paying applications that have changed the world of credit cards and bills and payments forever. There were many applications existing before but the recent $1 billion unicorns have proved it to be more efficient and effective than all of them. Cred was introduced in India in 2018 and it has reached the 1$ billion categories in just 2 and half years of time span.

The idea actually was to build trust and create connection amongst the people who had been suffering the financial trust issue. Slowly this connection of people will surely gain trust amongst the organizations that they actually think is useless or if fooling them. It is a kind of two-way relation that has to be bounded by the people and organizations at the same time.

Insurance claiming applications

Insurance is a very much profitable industry and people actually do not mind paying a small amount of money for securing their health, house or property, or vehicles. But it was and is still not easy to claim insurance because of people’s fraud actions to claim money from insurance companies. Recently an application was developed in Indian that leads the insurance claim to a very easy path. Acko insurance helps people to claim their vehicle insurance claims very easily without any commission and other charges. It was founded in 2016 and is now in a full boom period.

It has been possible with real augmented technologies and machine learning and artificial intelligence that stays awake to help.

Doesn’t the financial sector indicate how easy our work is going to be? Technology has already been a part of our lives.


The investment was always considered as a best practice to multiply your money many folds in a very short time period. It was always 6 feet underground for 80% of the population. Very few knew what it is and how to benefit yourself from it.

Digitalization has also ended it. The technology or say application platforms where you can trade and transact money instantly and without any long paperwork is now possible. Demat account is very easy to open now and unlike the prior time period, it is absolutely free. So, you need zero investment to create your portfolio and enter the arcade of the share market.

Before the world turned upside down, the investment management industry was experiencing two important forces: the longest-running bull market in history and shrinking margins at all but the most successful investment management firms. 


Finance is totally changed. It has been made very much accessible via technology. You do not need any long paperwork now for the transactions or loan an amount or trade-in share market or manage your credit card.