Blockchain Financing
Let’s face it! The world as we know it is constantly changing. The pandemic pushed the speed of change into hyper-drive. Businesses incorporated remote roles, people changed careers, schools restructured, and families turned to delivery services for food, groceries and even household items that were previously laughable. The pandemic was disruptive, but new technologies and digital experiences are emerging, including financial services.
Consumers demand more. They want what they want, when they want it, and how they want it and if you don’t provide it to them, they will find it somewhere else. Same is true in Financial Technology (FinTech). FinTech innovators are changing banking to meet the demand of supreme customer experiences, minimize costs, and remain competitive.
Frictionless FinTech is the innovative technologies behind customer experiences that provide holistic solutions for fluid interactions in finance. There are two sides to that equation including Frictionless FinTech Services for businesses and Frictionless FinTech Experiences for consumers.
Frictionless FinTech Services
FinTech businesses are constantly listening and adapting to quickly provide the services that their customers demand. Frictionless FinTech Services include the following technologies that businesses are incorporating into their financial strategies.
- Blockchain. Decentralized ledgers record transactions faster for cheaper transactions, automated contracts and greater security.
- Web 3.0. FinTech combined with Web 3.0 and blockchain provides limitless financial services by using smart contracts to build a more open and interconnected world.
- Tokenized Fiat. Fast, secure and seamless online payments. Tokenized data is undecipherable and irreversible providing a more secure transaction.
- Embedded Finance. By putting all financial tools in one place customers have access to what they want, when they want it, and wherever the are. Embedded finance delivers frictionless financing experiences for the most demanding customers.
Frictionless FinTech Experiences
Consumers demand frictionless experiences, even if they don’t know it. Mobile banking provides the underbanked more access to financial services and enables fast, secure, and seamless transactions for a more fluid experience.
- Digital Wallets. With digital wallets businesses and consumers worldwide can accept payments, receive funds, or even send and receive remittances from friends and family instantly.
- Smart Contracts. Organizations using smart contracts on blockchain can resolve disputes and reconcile errors faster, no third party’s involved so there is more transparency and trust, and records are encrypted with a distributed ledger for higher levels of security.
- Financial Sovereignty. Take complete ownership and control of your money through the self-custody of an asset with clear and stable monetary policies.
- Seamless. Maven Federal Credit Union will make banking easy, cheap, and fast with excellent customer experiences, including a simple user interface for seamless transactions.
The (Proposed) Maven Federal Credit Union is on track to becoming the first blockchain credit union, backed by the Government Blockchain Association (GBA), and the National Credit Union Association (NCUA). We are bridging the gap between traditional and digital assets. Our aim is to create a decentralized financial fabric that unifies, businesses and communities that integrates them into an ecosystem that is transparent and reliable. Providing financial sovereignty to individuals, underbanked, small business and communities by building a financial framework that includes compliance with legal and regulatory requirements while promoting the welfare of constituents.
Disruption can wreak havoc or it can spark imperative growth. Frictionless FinTech’s hyper drive disruption has created innovative new technologies that benefit businesses and consumers alike. As financial services and customer experiences increasingly demand digital financing at their fingertips more businesses will need to incorporate frictionless financing into their strategies or get left in the dust.
