4 Types of Opinion Letters in Finance Introduction Opinion letters in finance play a critical role in assessing financial statements, transactions, and compliance with regulations. These letters are issued by professionals such as auditors, accountants, and legal advisors to provide an independent assessment of financial matters. Investors, lenders, and other stakeholders rely on these letters …
Although investing is often seen as a luxury, anyone can start investing, even on a budget. Regardless of your starting point, with the right information and strategies, you can build wealth. This guide to investing on a budget will help you get started, make smart decisions, and build a solid financial foundation. Whether you’re saving …
Over the past decade, new financial technologies have transformed the lending process. Peer-to-peer (P2P) lending has changed the way people borrow and invest. P2P lending allows people to borrow and lend money online without the need for an intermediary such as a bank. This financing method is convenient, efficient, and attractive to both borrowers and …
Establishing and managing a business can be challenging without an accurate depiction of the concepts and strategies that will help guide decisions. An entrepreneur’s journey is often shaped by a set of common terms like ‘business model’ and ‘business plan.’ These terms may seem similar, but they differ from one another in purpose and how …
Today, people no longer use physical documents and face-to-face verification as the center of identity. Rather, the use of digital identity has gotten a significant place in the FinTech industry. Whether it is opening a bank account or applying for a loan, digital identity makes everything easy and secure for users. Yet, people face numerous …
Like any other industry, the financial sector is being impacted by Artificial Intelligence (AI) technology. For instance, customer service, task automation, and security in banking and other financial services have become faster and better managed with AI. FinTech companies that use AI technology are changing the way people think about money, loans, and investments. With …
Regulatory technology, or RegTech, is changing the game when it comes to compliance. Businesses, now more than ever, need to be proactive due to the rise in financial crimes, data breaches, and even fines from regulators. Traditional compliance practices take up a lot of time and resources and are quite costly. With Stratechic’s RegTech solutions, …
Blockchain technology is a threat to banking as we know it. With the financial world changing at an exceptionally fast pace, new challenges to banks, one of which blockchain offers, are popping up everywhere. Banks have been the core institutions of the financial system for centuries. Still, blockchain offers a more transparent and decentralized alternative. …
In comparison to other financial sectors, the insurance industry has been seen as a traditional market, hesitant to embrace changes. The advent of technology has brought a positive transformation with the birth of what is referred to as InsurTech. InsurTech, which stands for ‘insurance’ and ‘technology,’ focuses on the innovative uses of technology to improve …
Open banking is changing the way consumers and businesses interact with their finances. It seeks to improve the quality and services of the industry by allowing third-party service providers access to consumer banking information provided by the user’s consent. The system integrates banking data with several financial applications like transaction, budgeting, and loan applications, which …