The digital revolution and internet-based businesses are gradually changing the way business is operated. This revolution is dubbed as a disruptive technology because it has brought so much dynamics. It has made the world more centered, connected and faster spaced. There is no exemption as to the industries immune to the technology revolution. By extension, the best-served sector is the finance and banking which has made wealth and asset management game positively change.
Finance related technology and Innovation – Fintech has to lead to the development of innovative products such as online banking, money transfer system, loan application algorithms and digital investments avenues. In an environment that is fast changing, financial institutions are keeping par with the technological innovations and advances which have made them relevant and be sustainable.
The banking industry has had its fair share of challenges ranging from inefficient processes, financing loopholes, the high operational cost of limited access. Internet and technology have devised products which can serve all conveniently, affordably, efficiently and effectively. Mike Baur, a Swiss financier, advises enterprises that it is high time they learned how to embrace technological innovations and inventions.
This a major boost to economic activities. It has now become easy to raise capital or source for funds from investors and donors or grants. Similarly, trade is running thanks to quick transactional processing and wise resource management including investment seamlessly. The finance industry has benefited from information management, credit checks, approval process made easier and crowd-funding. Automation has increased productivity and operations. As a result thereof, this disruption has brought the needed change and growth.
About Mike Baur
He is a co-founder and co-owner of the Swiss Startup Factory that gives the first time and continuing investors’ information about how to go about running businesses. This company was founded in 2014 alongside Max Meister and Oliver Walzer. The Swiss Startup Factory has opened and launched an Accelerator program.
Mike Baur advises people to begin investing early and also take time to learn and understand the market. Planning should take a lot of time so when implementing you implement a viable project. He tells investors to develop a product that meets the market needs and not just what is thought to be wise. He had corporately worked with several institutions before venturing in entrepreneurship at 39 years of age.
This business tycoon, Mike Baur is open-minded to technology and its development which has made him relevant. He explains why technology is right to this time. The University of Rochester and the University of Berne are his alma mater. Mike Baur has been in Swiss Private Banking for more than 20 years.