Technology is ever changing the work environment and FinTech is set to take us through yet another revolution. One major bonus is the fact that the millennials–who are quickly becoming the guiding force of the economy–are incredibly technologically savvy. What does this mean? Millennials are easily adopting the new technologies FinTech is introducing, which gives these innovations power in the marketplace.
How do you reach the millennial market? Well, you look at their lives and needs and find a solution to a common problem. This is what Moneydance did. Their startup allows users to have a clear overview of their finances, showing them their banking history and investment portfolio; as well, users can send payments through Moneydance..
The system also has an app that allows users to create graphs and reports to track income and expenses, making the process of creating and sticking to a budget that much easier.
Startups aiming to capture the millennial section of the market need to be technologically savvy, as this generation is expecting this of its companies. Even if your product is (in your mind) revolutionary, if it doesn’t link up to modern technology millennials will look for options that do. This is why FinTech is primed to capture this market and why it is a good area for startup growth potential.