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While most countries are still witnessing the post-COVID-19 effects, the Netherlands is a magnetic force that captures international companies worldwide, and Plaid is one of them.
It is a San Francisco-based company that fuels the modern digital financial ecosystem while bridging the gap among consumers, fintech apps, and their financial accounts.
Starting in 2013, the company has successfully built 11,000 institutions and 200 million bank accounts today. Also, it links thousands of fintech apps. While entering the center of fintech innovation Netherlands, the company has come closer to its end-users.
Although Plaid is a huge name in the fintech industry, you can also initiate a digital revolution while building your own fintech app. As fintech app development grows, it could be a big door of opportunities for your business to grow and flourish further.
Need further assistance? Get in touch with the top mobile app development company in the Netherlands.
But do you know why Plaid choose the Netherlands over other countries?
Let’s find out in the next section.
Why did Plaid Choose the Netherlands?
Even after knowing that the country is the powerhouse of fintech applications, if you still want to learn other reasons why Plaid chose the Netherlands, read these pointers ahead:
- Almost 400 fintech companies are there, including one of the giant global fintech unicorns.
- Plaid has collaborated with some largest financial institutions in the Netherlands, such as ABN Amro, Rabobank, and INF.
- The country’s developers can use the world’s financial network to expand their reach and services worldwide.
What Makes Fintech Growing Globally?
Now, let’s move into this section to learn how the fintech industry is turning out to be the most dynamic and bringing rapid increase while deriving services like digital payments, money transfer, alternative lending, funding platforms, and financial software and automation.
Let’s get started and learn the reasons behind the exceptional growth of Fintech.
1. Technology
New technologies arrive daily and lead the fintech industry’s growth toward new horizons. Various technologies like Cloud Computing, AR/VR, ML, AI, and more have turned financial services into Fintech.
What’s more?
To enjoy remote financial services, fintech apps have become a convenient option for users worldwide while automating the entire process with different machines and algorithms. Here are various benefits that the Fintech provides:
a) Increase Productivity
As we have fintech apps and solutions for our daily financial operations, it leads to enhanced productivity. With some taps and clicks, the automated services enable users to deposit money, transfer funds, convert currency, and make a payment, all while they relax on their couches.
b) Accessible
Banks provide an extended range of financial services with the increase of technology integration in websites and mobile apps. All kinds of intermediaries like brokers and managers are removed, which ensures the customers get direct access to banking information and services.
c) Cheaper
With the online presence, banks have moved beyond their physical offices. Even users can access different services using their mobile phones. So, what could be the best for banks, they can serve their end-users without compelling them to visit the offline offices frequently. Instead, banks can save on staffing as everything goes digital. The top mobile app development company in Netherlands can help you make the most of technology while creating your own app.
2. COVID-Driven Contactless Payments
Indeed, the COVID-19 pandemic has changed the whole scenario of the fintech sector. As a result, 2020 was recorded as the most significant wave of new banking and mobile payment app accounts. Moreover, governments started promoting contactless payments, and thus, it led to the increased demand for online payments and increased usage of telemedicine, e-learning, and eCommerce.
Here are various types of fintech software used by digital banks. Such as:
- Finance Automation
- Contactless neobanks
- Robo-advisors
- Biometrical security
- Diversified payment
- Voice-activated and QR code payments
- Blockahin and real estate crowdfunding.
3. Regulations
Institutes within the financial sector are subjected to regulatory obligations. However, some of them are flexible and help the companies develop deriving fintech products.
Customers can explore new ways to track and manage their finances through smartphones and thus lead the fintech industry towards exceptional growth opportunities.
4. Evolution
Another reason that makes the fintech industry stay ahead of the curve. A new phase in the development is coming as the fintech industry is growing. With tech integration like AI, AR, VR, Blockchain, and others, it will be better to say that the fintech industry will achieve various dynamic milestones.
To Sum it Up!
Now that you have received a better insight within this post, don’t you want to connect with the right team of technocrats who will help you bring some drastic changes into your business with some tech-oriented and dynamic solutions? Indeed, there will be better opportunities for you to grow, and you will have your brand in the industry just like Plaid has. Plaid captures a vast space where Fintech mainly grows while choosing the Netherlands. Indeed, there will be multiple opportunities for growth and expansion in the same industry. If you want to develop your own fintech app, don’t forget to connect with the best mobile app development company. There will be dynamic ways you can lead your business ahead with the assistance and guidance of top developers.