MUNYIRI VICTOR KIMONDO

EH208/1941/2021

UNIT CODE: CLM 307

UNIT TITLE: MAGAZINE PRODUCTION

EXAM PROJECT

FINANCIAL TECHNOLOGY FIRMS.

(FINTECH)
FINANCIAL TECHNOLOGY FIRMS.
(FINTECH FIRMS) may look like quite a
complex point of discussion but
uniquely it is quite a trend issue in
matters finances.
FINTECH FIRMS- refers to any
application alias (apps), software or
technology that allows individuals,
organizations or businesses to digitally
access, manage or gain insights into
their finances or mobile financial
transactions
Technology evolution has been quite a
sensational and reputable deal in the
world hence making it’s combination
with financial firms the biggest and
richest sectors of the economy globally.
RELEVANCE OF MAGAZINE IN FINTECH
FIRMS
With the thrilling love of printed
work ,magazine production has to date
remained relevant in matters FINTECH
FIRMS-research by IPSO shows people
surveyed still at least once in three
months read magazines of their tastes
and preferences.
With this combo it has attracted specific
individuals luring them to read them.
Humans have a forgetful nature, for
example, it is very unlikely for one to
remember an ad after scrolling past two
videos making magazine a reliable form
of conveying the messages.
Magazine has geared in finding niche in
the versatile sector:
With the target of the prolific
magazines being highly global
executives. Magazine production
companies have revamped their
websites to optimize for mobile
devices and social aspects and
include more multimedia content.
The attractive layout of magazines
attracts companies attracts
companies to promote their
products on the magazine
platform and their FINTECH FIRMS.
For social welfare job adverts are
also relayed on the magazines.
 The nature of magazine implies
that it can reach specific
audiences. FINTECH FIRMS target
audiences consist of:
 Developing markets. This entails
entities such as Hustler funds where
individuals access mobile loans.
 Financial institutions. New modes
have been injected in the traditional
banking system by bringing up apps
which enable people access their bank
status with their electronic gadgets.
Small and Medium –Sized
Enterprises. i.e., digital banking and
lending sources such as m-shwari where
these business people acquire quick
loans to keep their businesses running.
Private and Public Corporations.
 Large companies are surrounded by
various action such as risk management
and payment solutions ,these apps
which keep track and record of
transactions reduce too much of
overload in the companies.
Consumers.
Highest population of individuals rely on
time to time service of transactions;
either receiving payments or making
payments for goods and services.
 AIMS OF MAGAZINES IN FINTECH
SECTOR.

With the focus many services can be

offered across valuable resources
globally. This includes; entrepreneurs,
investors, industry professionals such as
insurance firms and other people
interested in the finance and technology
field. They include;
 Education and awareness for adoption
within the industry
 Remarkable leadership sharing
perspectives, challenges ,opportunities
and future directives
 Fostering of networking and community
building
 Provisioning of market intelligence and
research reports.
Empowerment of consumers on knowledge.
 Despite the achievement magazine
production has quite a share of
spoils;
With shift towards digital media
and social platforms magazines
must adapt to meet their readers
preferences.
With FINTECH being global
reaching diverse international
audience with local rules has
become complex
Generating sustainable funds to
keep them running in production
through adverts requires a lot of
monetization.
Specific nature of Fintech makes it
difficult for audience engagement
Embracing a different approach is
becoming quite a necessity in the
evolving world. Hence, soft copies
are being used nowadays for safe
storage purpose and reducing on
workload of carrying around many
different, magazines relaying same
messages.
“A revolution is not a bed of
roses. A revolution is a struggle
between the future and the past”
FIDEL CASTRO.
FINTECH JOURNEY.
Though the term may seem a recent
analogy, the history of finance has
been an evolution of human
civilization and the quest for more
efficient, secure and accessible
financial services.
The earliest form include:
BARTER TRADE Use
of money and currency (ancient
early traders used to transact
goods based on their needs and
values.

Other forms included: Use of money and currency

(Ancient Mesopotamia, 3000BCE), paper money
(china, 7th century), telegraph and transatlantic
cable (19th century), banking systems (ancient
Greece and Rome, 6th century BCE)
The FINTECH field is quite an attractive
and lucrative field that attracts many
investors to start.
There goes a saying that behind every
successful man there is a woman but in
our scenario behind a successful
FINTECH there is a process. Here are
some insights;
Developing an idea.
Validating your idea.
Have a clear understanding on both finance
industry and technology regulations.
Determine the FINTECH services you will
provide.
Get to know your audiences.
Research your competitors.
Choose a web and app development
company.
Prioritize security.
Broadly FINTECH can be
categorized in three main
categories that is:
Business to Business (B2B)
Business to Consumer (B2C)
Peer to peer (P2P)
Sub categories include:
PAYMENT AND REMMITANCES .It
involves mobile wallets such as m-peas and
digital currencies.
LENDING AND BORROWING.
Crowdfunding, microfinances, P2P Lending
such as the one done in SACCO’s
PERSONAL FINANCE AND WEALTH
MANAGEMENT. Saving in banks by
employers for retirement benefits.
INSURTECH.
Includes technology and digital platforms
BLOCKCHAIN AND CRYPTOCURRENCIES
 (Bitcoin, world coin etherium and
tokenization of assets.
FINTECH IS ENCOMPASSED WITH ADVANTAGES
AND A SHARE OF SPOILS TOO.
ADVANTAGES.
1.Cost efficiency. Unlike in the past where one had
to travel to access a bank nowadays with a
smartphone you can easily access funds.
2.Enhanced customer experience, where there is
direct contact between an individual and their
funds.
3.Efficient risk management where personal details
are controlled by personally by use of pin codes
and fingerprints
4.Innovation and technology advancement.
DISADVANTAGES.
1. Digital divide. Those who can access internet
and those who can’t.
2. Dependency on technology.
3. Privacy concerns since systems can be
hacked.
4. Lack of human interaction, where feedback is
relied from systems.
5. Cybersecurity risks.
FINTECH FIRMS TRAIL.
It is no big whack to highlight that
United States of America has the best
FINTECH ecosystem in the world.
Singapore trails close behind this
great economic giant.
Top leading FINTECHS worldwide
are from U.S.A. These are:
1. VISA. Which is a paying
technology public facility
2. INTUIT. Which is an Accounting
public facility.
3. MASTERCARD. This is also a
paying technology public facility.
REMARKABLE TRAIL BLAZZER OF
PAYPAL
PAYPAL has quite a fascinating story of
innovation, entrepreneurship and
disruption within the (FINTECH)
INDUSTRY.
It was founded in December 1998 by
entrepreneurs; Peter Thiel, Max Levchin
and Elon Musk with the name of the
company originally –CONFINITY. With
an aim to develop software for securely
transferring money between handled
devices before revamping to digital
payments
It later merged with X.Com (1999-
2000) an online banking company
owned by Elon musk and now renamed
to PayPal.
PayPal gained massive growth (2000-
2002) after solely being used by EBay for
its ease of use and transactions.
PayPal went public with an initial
public offering on the NASDAQ stock
exchange and later that year EBay
acquired PayPal, with the deal being
sealed in 2003
Period between 2005-’15 they
expanded internationally broadening
their footprint
PayPal became independent once again
in 2015 and started expanding while
doing innovations strategic investments
have also impacted it positively.
TRAILBLAZZER OF M-PESA.
KENYA, as a nation has not been left
behind in the FINTECH firms
journey .It’s birth can be dated to
2007 when it was launched officially
as a mobile transfer service.
It has been rapidly adopted since by
people who did not embrace the
traditional banking system .It has also
sought to seek diversification and
growth across the Kenyan borders in
countries like Tanzania, Uganda and
DRC.
 With its growth it has acquired
both private, public organizations and
banks which has had a positive
impact on M-pesa.
The world is evolving pretty rapidly,
with this there is adoption of diverse
skills and courses offered .Most of
this operations are automated.
Though the younger generation who
are attracted to the field also have an
opportunity since there are various
subsectors across fields such as:
insurance, trading, finance and risk
management.

With this knowledge of

finance and business, students are
eligible to venture in FINTECH FIRMS
operations.

Raponi, Michael A. (2015). FY 2014

independent auditor’s report. U.S. Government
Publishing Office.
Https: //www. Oversight.Gov/
sites/default/files/oig-reports/16-03.pdf