FINTECH-AS-A-SERVICE EXPLAINED

[@Cherokeecandie]

Amazing information. Thank you. Might I ask you to slow down a bit. Just a little.

[@JeremyQuainoo]

Thanks for the feedback. I'll do my best to slow it down as much as possible. Cheers

[@marpalpalmer8337]

You are a great teacher

[@JeremyQuainoo]

Thank you! 😃

[@huudumutawakil3]

Great knowledge Jeremy

[@JeremyQuainoo]

Thank you

[@FortuneFocus01]

Very clear explanation, easy to follow... Happy I found your channel.. best

[@JeremyQuainoo]

Thanks and welcome aboard

[@huudumutawakil3]

I keep learning from you.

[@JeremyQuainoo]

I appreciate that

[@arnoldchungom5414]

Exceptional insights.

[@JeremyQuainoo]

Thanks

[@jemimabiney5579]

Excellent explanation, great video, you never disappoint thank you.

[@JeremyQuainoo]

I always appreciate your kind words Jemima, thank you

[@mobifinsolutions1956]

This is great, thanks.

[@JeremyQuainoo]

Glad you liked it!

[@DennisDesmornes]

Excellent content!

[@JeremyQuainoo]

Glad you enjoyed it, thank you

[@jamilehizzat5255]

Well done😊

[@JeremyQuainoo]

Thank you! Cheers!

[@NewCrewMember]

What's the difference with this and types of fintechs such as Paytech, Lendtch and such?

[@JeremyQuainoo]

FAAS can encompass paytech lendtech and the rest. The service module essentially follows a plug a play build which allows different merchants or vendors to plug into any fintech service via API's

[@Blockchain_Master]

Does this mean a Mobile Wallet like Opay can be build up on FAAS infrastructure

[@JeremyQuainoo]

Yes, a mobile wallet like Opay can be built on a Function as a Service (FaaS) infrastructure. FaaS, which is often associated with serverless computing, is a cloud computing model that allows developers to build and deploy applications without having to manage the underlying server infrastructure. Here's how a mobile wallet could utilize FaaS: Transaction Processing: FaaS can be used to handle transaction processing, such as fund transfers, payments, and balance inquiries. Each function can be designed to execute specific tasks within the wallet's operations. User Authentication: FaaS can manage user authentication and authorization processes, ensuring secure access to wallet features. It can authenticate users, verify their identity, and control access to sensitive data. Notifications: FaaS can send notifications to users about account activity, promotions, or important updates. These functions can trigger notifications based on specific events or user actions. Data Processing: Mobile wallets require significant data processing capabilities for things like transaction history, analytics, and user profiles. FaaS can handle data processing tasks efficiently. Scalability: One of the advantages of FaaS is its ability to scale automatically based on demand. As a mobile wallet grows and experiences varying levels of usage, FaaS can handle the scaling without manual intervention. Cost Efficiency: FaaS can be cost-effective because you only pay for the compute resources you actually use. This can be beneficial for a mobile wallet, which may experience fluctuations in traffic throughout the day. Integration: FaaS can easily integrate with other cloud services and APIs, allowing the mobile wallet to connect to various financial systems, banks, payment gateways, and third-party services. Security: Security is paramount for mobile wallets. FaaS providers often offer security features such as encryption, access controls, and auditing, which can enhance the wallet's security posture. However, while FaaS can be a suitable infrastructure for building a mobile wallet, developers should carefully consider factors like data privacy, compliance with financial regulations, and service-level agreements with the chosen FaaS provider. Additionally, designing the system architecture and functions effectively is crucial for a robust and reliable mobile wallet.

[@Blockchain_Master]

@@JeremyQuainoo respond appreciated 👍

[@jlrubia123]

when creating fintech application is there a need to host database locally for security purposes?

[@JeremyQuainoo]

Not necessarily, some jurisdictions do not allow for out of territory data hosting so you have no choice in that case. However, its much cheaper to leverage cloud hosting in the beginning to save on the costs of the physical infrastructure required.

[@saradapriya8823]

hey new sub and ur videos are more innovative information . i like to be investment banker in future but i am heading to do mba fintech upcoming by your vidoes. do u think mba fintech is enough to be IB or i need to change any other profession to have better opportunity. plz guide me to get away from this diloma

[@JeremyQuainoo]

I believe there are multiple routes to becoming an investment banker. A fintech MBA helps but you also need to know which specific investment banking field you want to explore and try and get some experience there either via attachments or summer internships. That exposure should answer a lot of your questions and make the way forward clearer

[@CalistroVC]

Beautiful. C #ONPASSIVE. ❤❤

[@JeremyQuainoo]

👐