Eugene Plotkin is a businessman who is always busy with different hats as he is a consultant for startups with fintech and he is the CEO of TechWallet. He helped to establish TechWallet which initially was one of those startups. Using technology to help others organize finances and living on the principle that technology should have a direct benefit for all users are the factors that fuel Eugene Plotkin’s passion to be the businessman that he is. As far as he is concerned, there is potential for exponential benefit that fintech can offer.
Being Russian born, and educated in finance, business and technology from Harvard is only the beginning of what Eugene Plotkin is all about. He had his start on Wall Street as an investment banker with Goldman Sachs, later Melvin Capital. It was at Melvin Capital that Plotkin began to realize and know his love for financial technologies.
As a consultant of Fintech, Eugene Plotkin has become akin to Fintech popping up all over the place and the fact that it seems to have many definitions. However, Eugene Plotkin has broken down the bottom line of Fintech being such a buzzword. He has advised that it is a concept that is vital to the operation of global commerce or financial technology as it pertains to software or applications that make data or monetary transactions secure and fast. The swiping of a credit card, checking balances via a phone, along with getting funds from an ATM is all Fintech or Financial Technology.
The 2020 pandemic highlighted the importance of fintech software and applications. Fintech made the shutting down less painful as many were able to shop online, make payment with no contact (or contactless payments as it is) along with utilizing food delivery apps and much more.
With the world being so fast paced, Fintech provides a great advantage of streamlining many of the old traditional monetary services to make it technological quick and fast. One could probably not begin to imagine that many operations or transactions would take days or weeks before the new innovations. Things like retrieving a credit report or sending or receiving money overseas can be done at a snap of the finger all due to innovative financial technology that verifies and completes transactions. All of the high speed connections out there have made the obstacles disappear.
Eugene Plotkin pointed out that fintech is widely used by all banks in some form as many of fintech applications process claims with great speed; not to mention, banks utilize the application and software to gain better insight into consumer behavior. In addition, it was discussed that many small businesses are now empowered to start various business ventures with great ease. Even mom and pop businesses can accept digital payments and keep up with their accounting and bookkeeping with software to take the burden off.
Fintech has made it easy for anyone who is interested in investing and gaining financial knowledge. One can actually use their cellphones to make trades in the stock market. With many making good trades and simply enjoying all the benefits of financial technology.