Banks have long ruled the show on the financial market. So long that it seems as if it's always been the case. Well, all of a sudden we have the fintech startups ready and raring to go. It took some ten years for these small projects to become large companies and grow in some investment and clients. They even managed to attain the impossible and move banks from their lofty perch.
Some already say that banks will disappear leaving the way for progressive solutions. Well, perhaps it is going to happen in some very distant future but definitely not tomorrow morning. Or even afternoon.
Unsuccessful attempts at ignoring
2007-2008 brought a serious mortgage crisis to the USA. It gradually grew into the financial and economic one covering the entire world. The crisis hurt banks a lot causing their mass bankruptcy.
Of course, they could not give loans in such conditions not even mentioning any types of deposit accounts. The same banks remaini...
- Published in Expert Opinion
Online lending is a rather new service to Ukrainian market. And it can soon become of the most promising ones. But on a condition that several key problems hindering its development are solved.
Subtleties of Ukrainian online credit system
Usually, a person who needs money wants to get them as soon as possible. In this view, an opportunity to get a loan almost in half an hour without living home is very tempting. That is why the online credit market, which offers exactly that, is tipped to bring a great future.
The experience of such global companies as Lufax (China) or Zopa (UK) shows that an online credit business can bring a huge profit ensuring an annual income gain of 300 to 700%. Many Ukrainian businessmen seek to replicate the success of their foreign colleagues.
It is worth noting that banks, being the traditional operators of online lending, are gradually leaving this niche. Now that they have more problems with transitioning ...
- Published in Expert Opinion
The conversations around Bitcoin as the most popular cryptocurrency are never-ceasing lately. It has been referred to as the digital gold and everyone is talking about it now.
Let's try to systematize the key messages observed around this crypto euphoria:
Bitcoins are limited in their technical capabilities, which hinders their widespread dissemination; A bitcoin is too volatile to be considered as a saving tool. It is simply unreliable.
Although gold changes its value too, it reflects the value of money unlike a Bitcoin, which is more of an asset supported by speculative capital flows.
As far as securing the real value of a Bitcoin is concerned, we can distinguish two main scenarios. It is believed that cryptocurrency is used to perform illegal transactions on the black market, and these transactions largely result in a conversion to cash. Moreover, it can be a tool for saving the value of money over time, despite the hyperinflation and national curr...