SPECIAL PROMOTIONAL SECTION
Fintech : A Financial Game Changer
by Jennifer von Geldern
FINTECH , SHORT FOR FINANCIAL TECHNOLOGY , has fundamentally changed how people and businesses interact with money from investing , lending and banking to insurance and real estate . With upheaval to businesses and the economy from COVID-19 , we can expect this digital transformation to continue while the Greater Sacramento region is poised as a leader in the growth of these fintech firms .
Thanks to the Greater Sacramento Economic Council , a consortium among Sacramento ’ s fintech companies and financial institutions formed in early 2020 to network and maximize advantages for tech suppliers and users , benefitting the Capital Region ’ s economy . “ Our objective is to elevate Greater Sacramento ’ s brand as a fintech leader , create more fintech jobs in the region , raise capital and create ... investment opportunities for budding innovative fintech startups and generate opportunities for fintech collaboration within the region ,” says Manvir Sandhu , cofounder and CEO of Zennify , a technology consulting firm specializing in cloud solutions .
The consortium meets quarterly via Zoom , driving fintech technology and innovation panels , interactive conversations and an action plan forward . “ Barry Broome and his team at GSEC have done an amazing job of pulling together leaders and innovators that are ready and engaged to help take Sacramento fintech to the next level ,” says Sandhu .
The latest technology is making financial transactions more efficient , transparent and secure — exactly what ’ s needed during the pandemic that has tightened timelines and forced in-person transactions to go digital . Physical branches of financial firms have closed , restricted capacity or limited services , and many employees have transitioned to work at home .
Such restrictions have pressured financial institutions to reimagine how to engage and transact with customers . Digital transformation via cutting-edge fintech technologies such as cloud , blockchain and artificial intelligence provide opportunities for the financial industry to advance services and streamline delivery while creating opportunities
December 2020 | comstocksmag . com 93