Embedded Fintech Education
The world of fintech has undergone exponential growth in the past few years, which was further propelled by the pandemic. Fintech has become a way of life for many of us due to its versatile adaptability, applicability, and practicality. A few years back, it was hard for us to imagine having minimum paperwork, no queues, conducting international transactions from the comfort of our homes, and more. Today this has become a part of our daily routine, where we bank and transact online and with ease.
One of the primary factors for the growth of fintech is the adoption of smartphones globally. The smartphone market has scaled up unimaginably, giving way to more users and participants. As the average age of the global population is 30 years, the reason behind the inflated number of smartphone users becomes clearer.
The smartphone market came into existence to facilitate connectivity and communication between people. Individuals could chat and communicate seamlessly with each other. Another key reason behind the advent of smartphones with big screens was graphics and the gaming experience. With impressive graphics comparable to gaming consoles, users felt compelled to pivot towards smartphones. These became an easier choice for their usability, functions, and the heightened experiences of communicating, gaming, etc.
Today, as more and more users adopt smartphones, the potential and reach of fintech are increasing, which has given rise to the need for fintech education.
What is Embedded Fintech Education?
We have always been taught how investing is crucial for growth. However, without the proper understanding and knowledge about investing, the different platforms involved, the return estimates, etc., it would be detrimental for an individual to invest anywhere.
Similarly, with fintech users on the rise, it has become critical to teach people about fintech, the terminology, the available choices, etc., and implant media that would facilitate fintech education.
Here is where embedded fintech education comes into play.
The Importance of Embedded Fintech Education
Embedded education options in fintech media and channels have gained immense importance, as users need to know about the different aspects of fintech and how their fintech choices can and might affect them. Below are some of the many reasons why embedded fintech education is gaining ground.
- Learning On The Go
Fintech is an ongoing process that is continuously and rapidly evolving. Fintech users are learning about these changes as they happen. While some users dive deeper into these topics to better understand fintech, most users don’t. Such lag leads to a risky market, where users operate fintech resources without completely understanding the outcomes.
The extent of fintech education can be improved by employing embedded systems in channels and platforms that are frequently operated by users. Learning on the go has proven beneficial as users are more likely to remember meanings of new terms through first-hand experiences instead of theoretically.
- No Special Courses and Extra Investment
With embedded systems, users don’t need to undergo special courses to improve their fintech knowledge, which also helps them save on investing in such courses. Embedded systems have proven to be a much more convenient option for users and companies. With embedded education, companies can have better control over their customer’s knowledge pools, leading to deeper relationships with them.
- Better Understanding of Fintech
The more customers learn about fintech and its different aspects, channels, and terms, the better understanding they develop of how they can use fintech to enhance their financial positioning in the market. With fintech robustly evolving and branching into different and new sectors, it has become imperative for consumers to learn about and understand its reach and applicability, which would eventually help them use their resources better.
- Better Fintech Userspace
With users understanding fintech resources and the market better, the likelihood of risks in the fintech market decreases. Making informed decisions and choices by the consumer is as crucial to the industry as its investments. Fintech decisions and trends have the potential to change the entire dynamic of the global market, making it critical for consumers to develop a good understanding of fintech products and services.
To Conclude
With the rising stakes in fintech globally, the need for customers to develop a better understanding and knowledge of fintech terms, products, channels, services, and more, has become imperative. As most customers would not go out of their way to invest their time, money, and resources into learning about an industry, the onus gets transported to fintech companies to ensure that their customers are informed and aware of the different fintech suites available globally. Embedded fintech education allows companies to place optional educational tools in the way of their customers while they operate fintech applications, transactions, etc., to give them the option of exploring meanings, gaining more insights, and the news.
