Fintech is nowadays, the hot topic no matter which business meeting, seminar or congregation you attend. It is basically an amalgam of two major domains, the finance and technology and the main purpose of this unity is to rule out the traditional ways which have been exploitative in nature to the customers and have resulted in bringing catastrophic downfall on several businesses. Fintech aims to provide the people with the easiest and usable solutions to those problems which have caused a hindrance in promoting the businesses across the globe.
At first, the proponents were of the view that Fintech will only bring about a change in banking and finance sector but no, their supposition was wrong. The Fintech has managed to bring innovation to the extent that it has remodelled the real estate sector as well. Several banks have started shifting their larger buildings and turning the services they provide on-site, online and this strategy has brought up a revolution in enhancing the user experience. This is a pretty great example which shows that banks are embracing technologies to bring about a change in their way of trading because this is the only way they can get to attract more and more customers.
You might be thinking of what it has to do with the real estate. The point is, since the banks are moving from on-site to online, there will be plenty of available workspaces which will be utilized in maintaining co-ventures between several organizations which will, in turn, increase the price of the real estate sector thus causing a property boom in the relevant areas. The successful startups will generate income and will increase productivity. On the other side of the equation, the transportation, trade and communication costs will decline thus further increasing the popularity level of the real estate market in a specific area.
Many buildings which lay vacant and deserted, in hope of any company or bank to take them, will be sold or rented individually because, with the increase in the sales and businesses of Fintech firms, the real estate business will escalate as well. There will be no any monopoly of real estate agents in certain areas or towns because every single property will be listed on an online portal which will promote the buy-from-owner culture, thus ruling out the agent who demands a huge sum of money on every single deal he cuts. Welcome to the world of Fintech.