Fintech News

What is Fintech? Leader Eric Blue Expands the Industry

According to the Global FinTech Adoption Index, 64% of the worldwide population has been using fintech applications since 2019 — and that percentage is only growing. So, understanding the expanding industry and its leaders can uncover these always-advancing solutions to managing money and acquiring elusive financial freedom. 

Fintech, whether people realize it or not, is a big part of everyday life. From splitting tabs with Venmo to tapping phones at the cashier’s desk to paying for gas or depositing paychecks using photos, fintech plays an active role in everybody’s day. But what is it?

Due to the exceptional range of tools, services, and platforms available within the industry, fintech is often considered an ambiguous term. But this far-reaching field can be defined to some extent.

The Basics of Fintech

Fintech, a shortened name for “financial technology,” refers to the technology utilized to streamline, augment, disrupt, or digitize the traditional financial sector. This might mean using algorithms, software, and applications. 

Fintech platforms perform tasks like transferring money, paying bills, applying for financial aid, and more to make individuals’ economic environments easy to access, use, and manage.

Well-established companies like Stripe and Klarna fall into the fintech category. But other oh-so-disruptive apps like Eric Blue’s Nevly continue to pop up, changing the landscape for the better.

The Evolution of Fintech

Interestingly, the concept of fintech dates back decades, despite the phrase only appearing in the Merriam-Webster Dictionary in 2018. For instance, when ATMs first appeared, they were considered innovative fintech inventions, as was the signature verification technology used by banks in the 1960s. 

Over the last few years, the industry has steadily become a considerable player in legacy and established financial institutions. Since 2016, central banks have partnered with fintech companies or launched their own industry initiatives.

Financial technology proved its worth during the last few years, during COVID. Banks and credit unions could digitally transact financial aid and other transfers without in-person contact.

Over the decades, fintech has continued enhancing its value with consumers and businesses alike.

Fintech Hasn’t Reached its Final Form — Eric Blue’s Nevly Proves It

As technological advances become ever more necessary in the developed world, fintech has experienced even more revolutionary upgrades. From blockchains to cryptocurrencies, people are constantly floored (in the best possible way) by the far-reaching nature of the industry. 

Nevly is a super-app created by Eric Blue, a fintech leader, to help everyone achieve their financial goals by “doing money differently.”

Nevly: The Fintech Company With A Difference

[Alt Text: Eric Blue, CEO of Nevly, is building a fintech company to help those ensnared in debt learn better financial habits and create economic health in their lives.]

While many of the major evolutionary stages of the fintech industry focus on payment transfers and making money, Eric Blue wanted Nevly to make a splash for a unique reason — as a consumer-centric one-stop shop for lending products, investments, and credit improvement.

With financial health at its core, the app has accessibility and its customers in mind. Nevly leverages the latest industry technology to improve otherwise underserved consumers’ financial health and literacy.

The app is a cornucopia of all things fintech, offering members a chance to upgrade their financial life with intelligent investments, personalized plans, and much more.

Eric Blue is truly on a path to greatness with this first-of-its-kind community-minded application that gives people without other resources the ability to access:

  • an asset growth program that rewards customers for ‘doing money differently’ so they can improve their financial health
  • unemployment support allows members to earn monthly support credits to cope with financial emergencies
  • a referral program that encourages users to become Nevly ambassadors so others can get the tools that will help them live a different, more accessible financial life. 
  • personalized financial planning, including recommendations to improve lifestyles
  • budgeting and spending tools enabling them to stay abreast of their finances. 
  • a credit builder card with zero annual fees or interest that doesn’t require a credit check to apply. The aim is to allow people to build their credit safely without risking overdue payments and additional debt.

This list and more make Blue an industry leader and Nevly the next big disruptive app. 

The Best Fintech Companies Start with Passion

Without passion, the major fintech brands people know and love wouldn’t be a reality — and the same goes for Nevly.

Eric Blue’s inspiration for promoting financial health by leveraging industry technology comes from watching his mother work multiple jobs and being ensnared with financial burdens, trying to keep things together. After reccurring evictions and the suffering caused by poor financial health , Blue began to dream of something like Nevly.

This passion and dedication to the financial wellness of others undoubtedly pushes Eric Blue to keep innovating tools to reduce hardships and make the industry easier to navigate.

Those currently underserved by traditional services now have a community to look to for guidance, validation, and much-needed support. After all, poor monetary health can be just as debilitating as physical diseases. 

FinTech is the Present and the Future

With Nevly and other fintech companies making a splash in the industry, the future is certainly bright for the industry. As technology advances, there will continue to be further stages in this booming market’s evolution and Blue is expected to lead this evolution with his innovative fintech company, Nevly.


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