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How the Cloud Can Help the FinTech Industry Thrive

FinTechOver the past ten years, we have witnessed a major e-commerce boom. This thriving industry created the need for ecosystem relationship management, or ERM, boosting a healthy ecosystem of start-up tech suppliers to serve several industries with online transactions.

Financial technology, or FinTech for short, is what makes these types of financial services possible online. Services like Apple Pay, Google Wallet, and PayPal allow customers to securely use credit cards to make online purchases, and FinTech services help companies better manage financial transactions as well as broad financial aspects of their business.

With the FinTech industry growing every day, there is a pressing need for secure and reliable hosting service providers. Cloud hosting makes this possible by being available for FinTech companies to ensure protected and instant transactions for every customer.

 

Choosing the Appropriate Hosting Option

It is neither a secret nor a surprise that the financial services industry is one of the most regulated industries in the world. Early on, a lot of companies were reluctant to choose third-party providers or transition to the cloud primarily because of the unique traits each company presents in terms of its hosting needs.

The stringent regulations placed upon the industry by the Financial Conduct Authority were also once a prime barrier for FinTech companies, although now the FCA encourages firms to take advantage of clouds and the beneficial opportunities they provide.

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