2022-11-21 15:36:08

Why every Fintech should think about data from the beginning

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Finextra
By Finextra

Fintech is a lucrative sector right now, and its expected to grow to $31.5 trillion by 2026. No wonder startups want to get in on the action. However, its also one of the most challenging niches to get into.

Endless regulations, competitive markets, risky new technologies, and economic challenges are just some of the things that can derail even the best fintech ideas.

But one key challenge which can often be an afterthought is your BI data. However, for a fintech to successfully move from the startup stage to the scale-up stage, it needs to ensure data analytics and BI is in place.

While you may not have much data at the start of your fintech journey, if youre successful (and I hope you are) then, believe me, you will have lots of the stuff.

Let me outline why I passionately believe that CEOs & CTOs of fintechs should be thinking about data from the outset.

You will be surprised (and incredibly pleased) at how rapidly your user numbers can grow

From experience, you will be surprised at the speed that user numbers grow on your platform. And with each new user comes more and more data.

Continue read on finextra.com

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