About Fintech Week

A Look at the Best Health Tech Gadgets of 2017

Ever since fitness wearables became the ‘in thing’, people have been more health conscious than ever before. Luckily, the technology we have available to us today is enabling people to monitor all aspects of their health in ways never before dreamed about. Even the online MHA degree has sectors devoted to health tech due to the impact it is having on our society. Whether you are a Maryville University MHA degree online graduate looking into the latest tech for your degree or just someone who likes finding out more about health technology, keep reading for a list of some of the best gadgets to have been released so far this year.

Omron Evolv

If you suffer from high blood pressure, the Omron Evolv is for you. Available for just $89, the device is wireless and light enough to transport anywhere. It comes with an app which enables you to monitor your blood pressure on a daily basis. The device measures a number of data points and can sync the information to your doctor. It’s really effortless to use and the information it displays is accurate and easy to understand.

QardioBase

There are a lot of apps and fitness wearables available today that are designed to encourage us to move more, and lose weight in the process. What we haven’t seen much of are smart scales. The QardioBase changes this. The scale is able to not only display your weight but also your body fat, muscle mass, bone ratio, heart rate, and BMI. The scales connect to a free-to-download app that is available for both iOS and Android. Better yet, the scales cost just $129.99 and can be used by every member of the family. Now that’s smart tech!

Philips Advance Centrifugal Juicer

Fiber is one of the most important nutrients when it comes to digestion, heart disease, diabetes, and some cancers. However, unfortunately, most of us don’t get enough of it in our diets. One way of changing this is by investing in the Philips Advance Centrifugal Juicer. The juicer can be purchased for $299.99, and although this may seem like a lot, it’s not a novelty item that will end up in the back of your cupboard. The juicer has different settings on it so you can adjust how smooth you want your juice to be, and it’s also really easy to clean. It promises to provide refreshing juice with up to 50% more fiber per portion.

Wair Smart Scarf

If you’ve visited any Asian country, it’s likely that you’ve seen people wearing masks and scarfs to keep the air pollution out of their lungs. The Wair Smart Scarf works on the same principle. However, it’s fashionable as well. This innovative device aims to keep your lungs clean without compromising on fashion. And, like any good health tech device, it is compatible with an app which monitors the air pollution levels in your area.

These four gadgets are by no means all of the great tech we’ve seen so far this year. It will be interesting to see what the rest of 2017 brings.

Why You Need to Optimise Email Marketing Across Devices

On an average day, 53% of emails are opened on a mobile device. This is elevated to 75% during the holiday season. You need to ensure your emails are mobile friendly, otherwise, your emails will be ignored and sent to junk. How do you optimise email marketing across all electronic devices? This is how.

Although personalised, automated content can generate 320% more revenue, a responsive, well-designed email can make all the difference. You need to employ an email marketing campaign including mobile friendly email templates, which can be opened and easily read on mobile phones, tablets and desktops.

Once the email has been created, never assume your email looks great on mobile phones or tablets; instead, check. By not checking, you run the risk of sending customers a poorly functioning email which will lessen your click-through rates and sales.

Ensuring your emails can be accessed and read on mobile devices means your customer base is more readily available. With more people living busier lifestyles, they rely on their mobile phones when checking business and personal emails. You will be widening your business’s reach while increasing your online visibility and brand’s awareness.

We live in a technology-based society. With people living busy lives, most online activity is conducted on mobile phones. Although you need to ensure your email is optimised for multiple devices, you also need to send relevant and targeted content.

Tools to Better Connect Businesses and Customers

Customer satisfaction is important for your business if they are happy with your service, they are more likely to recommend you to others. Developing and maintaining that comfort is not always easy. In many cases, it can take an approach from numerous angles to reach your customers and engage with them.

Seeking advice if you are unsure is the best way forward, and making it part of your marketing campaign will enable others within your company to share ideas and offer solutions.

Website

If you have a website, you can use it to become more engaged with your customers. Creating content that is relevant to your business and engaging with the people who read it, will encourage more interaction. Ask their clients opinion on different topics, such as a new design or product. It will not only make your clients feel more involved, but it will also allow you to gauge public opinion on the new products.

You can run advertisement campaigns and competitions on your site as well. Competitions, in particular, are always a good way of getting visitors to your website. If you offer one of your products as a prize, you are also promoting your brand and hopefully using word of mouth to sell it.

Social Media

Social media platforms are growing all the time; it is one of the principle ways that many people see news and catch up with events. It is also a way that they engage with the brands they like and ones they are exposed to on their feed.

Regularly posting on sites like Twitter and Facebook will get your customers involved and can encourage them to click through to your website. You can post a link from your site to your social media accounts to promote a product or competition, but beware that you do not want just to promote your products. Posting about other related topics in the news will add another dimension to your business and lead the customer to feel closer to your brand.

Software

You can use your software to make sure you are engaged with your clients. Even simple things such as having an available email address can make customers less frustrated. If your existing software is not able to achieve this, then migrating to Office 365 or other similar software can help. It has all the functions you need while enabling you to access it wherever you are.

Listening to Customers

Social media is all about communication, and this is a two-way street. If you post something on your feed, you should be prepared to answer any comments or questions you get. Customers feel closer to brands that take the time to respond to them and value what they say.

The same applies to your website, you are not always going to get positive comments, but the way you deal with them is important. Always try to respond, even if it is to offer an opinion or to tell them to speak to one of your colleagues. The fact that you have bothered to respond will make all the difference.

Career Opportunities in the FinTech Industry

The changes that have happened in the Financial Services world over the last decade have been huge. Technology has completely redefined the processes within financial services companies and what customers expect from them. The banking sector is a great example, where the traditional method of going into your local branch to arrange a mortgage, take out a credit card or perform a simple transaction has changed greatly.

Now the majority of customers want to be able to do everything that they need through the convenience of a few clicks within the app on the smartphone. If a bank can’t provide that solution for them, then this could be a good reason for the customer to change banks. Due to this change in demand and the costs associated with running a large network of branches, most banks have significantly reduced their number of branches.

According to the Telegraph, 2017 will see an overall reduction of 525 branches. This included 148 RBS and Natwest, 117 HSBC, 95 Lloyds/Halifax, 79 Clydesdale/Yorkshire Bank and 38 TSB. The demand for digital banking is already very high, but the next generations of customers won’t know anything other than digital banking.

Traditional banking methods like the use of cheques will be part of history when they become obsolete in 2018. This will reduce the requirement for branch even more. So, with all of these changes in banking and reduced jobs in branches, it means there is an increasing need for FinTech roles.

Jobs like Software Engineer, Developer, SQL Database Administrator, Agile Product Manager, Machine Learning Developer, UX Designer will be in demand; a simple search on any job site will bring back a large percentage of technical roles, and this pattern will only increase over the years to come as we move closer to a world where banking and financial services are fully digitalised. Whatever sector you look at, you can see how it has been impacted by technology, whether it is providing mock driving theory tests through sites like toptests.co.uk or arranging your car insurance through a comparison site. Learning the theory behind driving is becoming digitalised, as well as other forms of learning through an online university. FinTech is not a solo industry using new technology and innovation; many others are too.

For students thinking about the types of jobs they can go into, there certainly is a lot of choices these days. CEO of Funding Options, Conrad Ford, recently provided some advice for people looking to work in the FinTech sector with a view of launching their own Startup. One of the first pieces of advice was to take up a Graduate Scheme if offered one. The amount of experience and support you generally get through these schemes will set you up really well for the future.

He also said that people shouldn’t be afraid of being wrong or failing. The ability to get over any failure quickly will help. Ford also explained that getting too big too soon would hold people back, how you should never get complacent and you must be ready to adapt. As the FinTech industry becomes bigger, we will no doubt see plenty of Startups emerging over the next ten years across the UK.

How to Create an Effective Social Media Strategy

Social media is easily one of the most effective marketing tools in today’s modern world. Use it well, and you could create long-lasting connections with your customers. Sadly, many marketers fail to create a social media strategy, which can result in poor posts or a PR catastrophe. We are therefore providing some top tips to help you create a clear plan.

Define Goals

Before you do anything, you must sit down and define your social media goals, such as why are you embarking on a social media campaign? Do you want to increase your brand awareness? Drive sales? Connect with customers?

While many of the goals will often go hand-in-hand, there will be some goals that are more important than the others. So, you should sit down to focus on just one or two strategies to ensure you reach your mission.

Set Clear Objectives

Your goals will be tied to your objectives. For example, set measurable, realistic expectations each month, such as attaining 100 leads per month or boosting your social media followers by 50% each month. Remember, you should try to set achievable goals, or your achievements will only deflate you.

Create Customer Personas

It is essential to market social media posts to the right audience, which is why you should aim to create buyer personas that detail the perfect customer. For example, what is their age, income range, marital status, dislikes, hobbies, etc? By identifying the dream consumer, you will know who to target with each post.

Gain YouTube Subscribers

With one in two internet users using YouTube each month, it is one of the most influential channels online and has the power to considerably boost your brand if used well. With the active audience looking for brands they can trust, it is important to develop a strong social media presence as soon as possible, which will encourage more people to subscribe to your account. It might, therefore, be beneficial to buy YouTube channel subscribers, which will provide real volume that can improve your online profile and integrity.

Research Your Competition

Make sure you research the competition to spot any gaps in the market and identify where they are going right or wrong. You may be able to learn from their mistakes or integrate their successes into your own social media campaign.

So, carefully study their posts, customer responses, the tone of voice and any culture references they use. You should also review how well their posts are working, such as their social media likes, shares and comments.

Pick the Perfect Channels

Every social media channel has different functions. For example, Facebook is a great tool for content marketing and can drive a significant amount of traffic to a website, while Instagram is more visual and utilizes high-quality photos. However, if you are targeting entrepreneurs, businesses and potential industry affiliates, LinkedIn is the ideal platform. You should always select the right social media channels to complement a brand’s needs.

A Beginner’s Guide to Application Hosting

Application hosting provides the smooth delivery of software to the customer via the internet. Whether you want to power a content management application, database app or an email management platform, the innovative hosting solution is the ideal choice for anyone creating a SaaS business.

Low Maintenance Costs

Unlike with on-premises deployment, application hosting will offer low maintenance costs, because both the management of the hardware and software will be the provider’s responsibility.

24/7 Support

Your SaaS business can benefit from continual support for the duration of your hosting plan. What’s more, you can also benefit from any new updates, which will be installed in a centralized location, so you do not have to worry about updating new versions.

You can, therefore, continue to benefit from the latest innovations, as well as the host’s extensive knowledge and experience to deliver a SaaS service that will not let your customers down.

Improved Accessibility

Unlike with on-premises deployments, an application hosting solution will be deployed across a cloud-based server. As a result, it has never been easier for the user to access the software on any device, anywhere in the world at any time – all they will need is an internet connection. All a user will need to do is login to gain access to the cloud-based software.

Limited Risk

You will be happy to know there is a limited risk when it comes to adopting a hosting plan. In some cases, a SaaS business will be able to host their application on a pay-as-you-go or short-term plan. So, if it is not right for your needs, you can simply cancel the plan and go back to the drawing board.

Bespoke Package

Umbee Hosting, a leading provider of managed services, SQL and hosted desktop solutions, can manage your application hosting solution from start to finish, as they can create a bespoke design combined with centralized data and built-in security. What’s more, you can scale the hosting solution up and down to suit your company’s needs so that the services can grow alongside your business.

Ideal for Different Size Businesses

Application hosting is ideal for both start-up companies and established organizations, as it allows you to completely or partially migrate from an on-premises client/server licensing model to hosting the application in the cloud. So, it is ideal for first-time businesses looking for a hosting plan to established companies hoping to transition to the cloud.

Integrated Backup

Every business has a legal requirement to keep their customers’ data safe and secure at all times, which means protecting the sensitive information from falling into the wrong hands or being destroyed. It is, therefore, essential to speak to an application hosting provider to identify if they provide integrated backup service. This will allow you to store your files in a safe location, so you can restore your documents should the worst happen.

Anyone considering launching a SaaS business should consider application hosting, which can provide the flexibility, security and accessibility you need for an improved customer experience.

Dealing with Profits in a Fintech SME

When you first begin your small business journey, your main objective is to build a sustainable business. You may not expect to make a profit for a few years. Many fintech startups don’t go into the black for several years, particularly those with significant startup costs on their balance sheet. However, sooner or later, if you do everything right and the economic winds are behind you, your fintech SME will start making money. The question you have to deal with at this point is what to do with the profits.

Reinvest in the Business

The most obvious way to deal with profits is to reinvest the money back into the business. In the early days, this won’t be optional, as you will need every dime you make to grow the business. Cash flow is critical. Without healthy cash flow, your business will suffer and grind to a halt. It is difficult to pay creditors or staff salaries with insufficient cash reserves. Diverting excess profits into a cash reserve account for a rainy day is a sensible way forward. This will give you a useful cushion of cash in the event the business is hit by unexpected expenses.

Paying Dividends

Dividends are a tax effective way of withdrawing cash from a business. Most business owners pay themselves a salary and top this up with dividend payments. There are strict rules concerning dividend payments and you can’t just withdraw cash from the business’s bank account each time you need money. Dividends have to be agreed at a board meeting before they can be issued. There also needs to be sufficient distributable profits for dividends to be paid, or you become liable for paying tax on the money.

Charitable Donations

Many small businesses make donations to charitable causes. It is a way of giving something back to the local community and supporting organizations you feel strongly about. However, whilst there are tax advantages attached to using some of your profits in charitable donations, you need to support the right organizations.

Non-profits are not driven by shareholders. They have different financial and legal obligations and their non-profit status qualifies them for tax exempt status. The majority of charities are run ethically and above board and their primary goal is to help others. However, some individuals set up charities with the express aim of lining their own pockets, so before you support as charity, it is a good idea to check their financial status. Anyone can check the financial status of a non-profit by running a 990 search. Make sure you do this before handing over cash to support a cause.

Invest in Your Pension

Reinvesting profits in a pension plan is a tax effective way to use excess profits from a business. Any money you place in a pension plan is not subject to personal taxation, so if you don’t need the money, skip the dividends and place your share of the profits in a pension pot.

Always speak to your accountant before making financial decisions in your fintech company.

The rising costs of cyber security

As the threat of cyber attacks are on an upward spiral, as are the costs for businesses who need to continue protecting their company data. There have been recent warnings from cyber security experts that they anticipate a big rise in hacker ransoms, which will not only affect businesses, but anybody who owns an online device. They expect these hackers will be targeting smartphones, televisions and even fitness watches. The fight against cyber criminals is climbing to a whole new level.

Most businesses have been spending large amounts of money on cyber security for some time now, but regulators are getting tougher on businesses that aren’t complying with the minimum standards. Businesses that are found to have inadequate systems and processes in place will stand to receive large fines. This is on top of the already high risk of reputational damage that any type of cyber security breach will normally entail.

The government budgeted a record amount of money into cyber security for the next five years as cyber hacking is a growing concern which shows no sign of disappearing. The fact of the matter is, the more devices that are connected to the internet, the more opportunities that are presented to the criminals. In a world where it has become the norm to conduct banking and other high-risk transactions using your smartphone, this is a problem that will fail to end any time soon.

The banking sector are prime targets for hackers, meaning it is paramount for consumers to select a back with high levels of cyber security. Whether you are looking for SBA loans or taking out a mortgage, it is important to select a bank who is dedicated to protecting their customers. You can check whether a webpage is secure by looking at the URL address. Sites with security installed will display a padlock symbol. Check LendGenius as an example.

Or course, back in the day, businesses never thought cyber-attacks would ever pose enough of a problem that would result in them spending money in expensive defenses. This is because, as hackers grow in sophistication, businesses must follow for their own benefit and security. When buying cyber security, it is not only a system you purchase, but a person with has the required expertise, and as there is a high demand in the recruitment market for people with these types of skills and experience, they are able to ask for the high figures.

Due to this high request, the experts in this area can demand high salaries, meaning businesses do not have the option to bow out. If you underinvest in cyber security, then you will be subjected to fines and possible reputational damage. However, overinvest and you are paying out huge salaries for the types of skills that used to be set within standard IT pay bands.

Today is a difficult time for businesses when it comes to hiring the right people who possess the skills and expertise for this growing epidemic. With the pattern of increased cyber-attacks looking to rise in the near future, this is a precaution both businesses and governments must consider and continue investing in when combating these criminal masterminds.

5 Website Mistakes You Must Avoid

It is never too late to learn from your website’s mistakes, which could be significantly harming your business. To help you identify where you might be going wrong, we will show you the five mistakes you must avoid on your website.

  1. Under-planning

One of the biggest mistakes you can make is under-planning your website, from its launch to its growth. Unfortunately, if you fail to plan a website, you could underestimate your target market, forget core pages or miss a promotional opportunity.

So, before you even buy the domain, you should sit down and think about your demographic, branding, content marketing strategy and the many pages you will need to reinforce your products and services. You must also think carefully about your call to actions, which could improve your conversion rate.

  1. Focusing Too Much on the Product

Chances are, you have created a website to sell a product or service. Sadly, the biggest mistake you could be making on your website is focusing too much on the product. You must, therefore, aim to identify what makes you different from your rivals, showcasing your personality through your branding. For example, do you have a lengthy history or personal philosophy that make you stand apart from your industry rivals?

  1. Poor Hosting

Does your website regularly suffer downtime? If so, not only could this stop people shopping with you at the checkout, but it can lead to a poor user experience that results in a customer turning to a competitor. Cheap hosting can equal a reliable service – you simply need to do your homework to discover a dependable, affordable hosting provider that will not let you down. So, improve your bottom-line and reputation and change your host.

  1. You’re Not Blogging

A blog is a great way to keep your website fresh, emphasise your tone of voice and promote your products and services. Not only that, but it can also drive significant traffic to your website, as active users are looking for informative, helpful and engaging content.

You can also use your blog to promote your products, release company news or offer helpful tips that aid the customer experience, which could increase your profit margin. You must promote the articles across social media, which can help you attract a considerable amount of new and existing customers to your website.

  1. You Use Low-Quality Photos

Low-quality photos will reflect a low-quality product or service. If you want to maintain a professional, high-quality image, you must only feature the highest quality photos across your website. A professional photographer must, therefore, take the images, so they are not blurry or pixelated and will reflect the high-quality product your business offers the customer. If you cannot afford professional photography services, you could always utilise the many stock photography websites that provide thousands of crisp images that can complement your brand.

Don’t be afraid to look at competitors’ websites for inspiration, which could provide opportunities for you to develop your site or eliminate any mistakes, as well as help you plan something different to your rivals.

Top Fintech Trends You Need to Follow in 2017

There is no doubt that the Fintech industry is looking at a great year in 2017. Aside from some new products being made available and the increasing demand for smarter, more technological financial services, the regulations that govern the industry and other supporting factors are more suitable for rapid growth this year.

There have been some interesting trends shaping up on the market too. These new trends will pave the way for more growth and new Fintech startups creating headlines on the market. In this article, we are going to take a closer look at some of the top Fintech trends you need to follow in 2017.

The Rise of Branchless Banking

Branchless banking, also known as alternative banking, will be a big business to get into in 2017. We already have some new players exploring this growing market. Atom Bank in the UK, for example, offers all banking services that traditional banks offer, but only through their mobile apps. Customers can do anything from open a new bank account to make wire transfers and everyday purchases just as easily.

Branchless banking is also a big business in other parts of the world. In Asia, even conventional banks such as Maybank and DBS are venturing into the world of branchless banking by launching their own sister brands and offering branchless banking services to customers. In Indonesia, BTPN – one of the oldest banks in the country – surprised everyone when they launched Jenius, an app-based banking service for young customers.

The demand for this new type of banking is on the rise too. Younger customers are looking for better banking services that allow them to enjoy all of the conveniences and services offered by a conventional bank, but without the extra hassle of having to visit a branch. App-based banking will continue to be a big trend to watch this year.

Digital Retirement & Investment Management

We live in an era where almost everyone owns a mobile device, so targeting mobile users is a logical step to make. While there are many financial apps focusing on payments and services, a growing number of new startups – and existing financial institutions – are bringing retirement planning and investment management to the mobile landscape.

This trend, paired with the increasing awareness for better retirement planning and the importance of good investments, is transforming the market in its own way. Established companies such as the Alliance Financial Group are making their retirement savings plans more accessible to young customers through the use of mobile apps and other technologies.

The retirement savings plans in particular are an interesting business in today’s Fintech landscape. The use of mobile apps means customers can be more actively involved in dictating the direction of their investments. There are still regulations to follow in most markets, but Fintech companies are innovating with new products that allow customers to enter the financial market and utilize other investment instruments to further develop their retirement plans.

Social Media and IoT

The two additional elements that will make Fintech even more exciting this year are social media and IoT. The recent concept video by Amazon – describing Amazon Go, a retail concept where customers can shop for everyday items without having to worry about making payments thanks to IoT and a mobile payment app – revealed just how amazing the possibilities are.

IoT will soon be everywhere. We already have a massive new array of wearables and devices capable of handling payments and other transactions, which means it won’t be long before these devices are part of the Fintech landscape. Top names such as Samsung and Apple are making their wearables ready for financial usage too.

Social media websites, on the other hand, are providing the perfect platforms for transactions. People no longer have to remember bank account numbers or other details just to be able to send money to friends. It is easy to split transactions using social media handles as identifiers. Messaging apps such as BlackBerry Messengers, LINE and Telegram already have payment solutions integrated into their workflows.

These new trends are shaping the future of Fintech massively. That brings us to the initial goal behind the whole technological revolution of financial services: convenience. New technologies, better services and smart integrations are just the mediums. The main goal of today’s Fintech advancements and new services offered by different companies is to make the financial world more accessible to many.

We’re still a few weeks away from the 2017 London Fintech Week, but we’re already seeing a number of exciting new developments from various Fintech leaders. It will be interesting to see even more developments during the event.