The Future of Banking Services is Now And Market Trends Demonstrate It

Recently, some of the biggest players in the banking service industry such as Citigroup and JPMorgan released their latest quarterly results and things did not look good, resulting on a significant drop in the value of their shares. Analysis have different hypotheses on the reasons for these results, with the two most likely ones being the pandemic and a recent scandal by various major banks related to money laundering allegations. Whichever the case, one interesting result of this drops has been a proportional increase in the demand for online banking services and technologies.

As traditional brick and mortar banks showcase a certain lack of reliability when it comes to offering the most efficient and transparent possible service, investors and customers realize that financial technologies are the way towards a new and better banking system. Where human error can lead to data leaks, monopolies and even sketchy operations such as money laundering, technologies can ensure that every financial process is registered, with accessible information and full accountability. This, on top of how much easier financial technologies can make it for the average user to carry out even seemingly complex transactions.

It should not then come as a surprise that the online banking industry as a whole, contrary to what’s been happening to brick and mortar banks, has seen an amazing degree of growth throughout the last few months. This growth has come in terms of user bases as well as in terms of revenue, market share and funding. This trend could indicate that banking services could be moving towards full digitalization in the near future, which would have a highly positive economic and social impact in the world.

At Konzortia Capital, we aim at becoming leaders in the online banking market through our SBank platform, by becoming the first to implement cut of the line distributed ledger technologies into a fully-fledged online banking platform. This technological framework will enable unique features in the service that were otherwise not possible. SBank will utilize a form of digital currency called Koura (KOU), which value equates to that of any fiat currency the user is employing. This makes it possible for users to carry out instant global transactions at a very low cost, even for high amounts of money, with settlement and verification processes being fully automated and highly secure. In addition, SBank will feature many qualities of life improvements over regular banking services, including multi-currency accounts, digital credit and debit cards, splits for bill payments, contactless payments, business fund management and much more.

With its highly innovative financial products within a distributed ledger framework that aims to be inclusive for all actors in the financial industry, Konzortia Capital is not just going to capitalize on new market trends, but become a game changer within the markets. We thus invite those who wish to partake in this upcoming FinTech revolution, or who simply want to gain further information about what we do and how we do it, to visit www.konzortiacapital.com. You may also join our newsletter to access periodic information about the current markets and the company.

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