Fintech, as it is commonly referred as, is a technology that improves and automates financial services for users. The phrase “Green Fintech,” on the other hand, is very new and refers to any initiative, business, or organisation that affects the environment. The beneficial effect entails lowering carbon emissions and enhancing the ecosystem.
In Green Fintech, cutting-edge business concepts are combined with technology like data analytics, the Internet of Things (IoT), blockchain, and Artificial Intelligence (AI) to minimise negative environmental effects. By investing in alternative fuels and planting trees, numerous businesses and groups are attempting to create a sustainable environment.
Green Fintech companies want to give their clients superior services. We will highlight the data that influences the fintech market in this article.
What Impact Does Green Fintech Have on the Banking Sector?
Benefits of green finance:
Using Green Fintech has a number of benefits for an organisation. These are a few of them:
Supply Chains:
The use of green fintech has the potential to enhance and increase transparency in supply networks. The best illustration of this is the alliance between IBM and Maersk. In 2018, the two businesses joined forces with the goal of providing blockchain-based, safe, and effective solutions for global trade.
People’s Lives Being Changed:
Green Fintech could make people’s lives better. In today’s global economy, digital or electronic credentials can be used to track a person’s financial history. A person may easily keep track of their finances as a result. New businesses like Tarfin and Agro.Club are working particularly to offer financial options and increase the independence of European farmers.
Managing Property Rights:
Blockchain has been used to sell land titles in various nations, including Ghana, Honduras, and Rwanda. As a result, it is now slightly simpler and more secure to transfer intellectual property rights. Financial services are becoming more diverse thanks to green fintech.
