The companies with the best relationships with technology have gained cruising speed in the last decade. Not just because there have been more technological advances, but because the application of this technology has accelerated in many parts of society. The most emblematic case is that of communication, where behaviors have changed due to the rise of social media and instant messaging platforms. Although they were already here more than 10 years ago, it is now pervasive in many aspects of life for both individuals and institutions.
The emergence of FinTech companies
Clearly, communication is not the only example; digital entertainment is the principal protagonist of our time. Important sectors of the global economy such as energy, transport, safety, health and finance, have benefitted from technological improvements and have made efforts to apply these advances to their services. Finance, in particular, is a powerful field of action for technology. In fact, a good example of this are the so-called FinTech companies that have risen from the synergy of finance and technology.
These companies have had an excellent reception on the part of the general public for different reasons. First of all, their goal has always been to simplify and improve the processes related to finance, and they have also been able to reduce costs, both of which have benefited their clients. Second of all, they adapt more easily to new trends and societal behaviors. They create convenient and user-friendly digital environments that address the trends of new generations with greater accessibility.
The example of NAGA
Obviously, innovation is the cornerstone of these FinTech companies. It allows them to adapt more rapidly to new preferences and needs and to create new tools to connect with users. NAGA, with more than a million clients worldwide, is a good example of this as they’ve converted their trading app into something else: a social trading platform. It’s an innovation that reflects the current trend in communication and information-sharing and is much better adapted to this new reality. With a pleasing and intuitive digital environment, the NAGA app offers traders the possibility of contacting each other to share advise and experiences as well as to address concerns. Additionally, NAGA has a training section and also offers detailed and updated charts regarding the different assets they make available for trading such as dogeusd, Tesla CFDs, Netflix stock and others, with categories including indexes, raw materials, crypto, CFDs, real stocks, Forex, Futures and ETFs.
For this reason, NAGA is an example of how FinTech companies have contributed added value to a traditional sector by taking advantage of technological advances to adapt to society’s current demands. We can contrast this phenomenon with the slowness with which some of the “classic” companies in this sector have adapted to the new technological possibilities, as can be seen with banks and brokerage companies. Their evolution has been much slower and it has been difficult for them to innovate. In many cases, they have simply tried to translate their traditional models to a digital environment, providing little added value to the transition.
Future and adaptation
There are clear parameters regarding to what extent technology has gained importance in the labour market, the economy, entertainment and other sectors. Perhaps the rapid progression in its market value is what best exemplifies this phenomenon. While in 2020 the value of the FinTech sector was at $7 billion, In 2025 it could exceed $31 billion according to some estimates. Today there are many traditional institutions that seek to ally themselves with these new companies or that try to apply some of their methods for connecting with users. In many cases they are losing clients because of an inability to anticipate their needs. Any improvements within these classic institutions are thanks in part to FinTech companies.
