Small Businesses Look to Fintech to Change How They Seek Financing

The rise of artificial intelligence, big data and machine learning is changing the way small businesses are doing things. Banking institutions are in a hurry to collaborate with fintech providers to find solutions that offer small businesses an opportunity to seek financing. In countries like the United States, for example, there are more than 30 million small businesses that make up about 99% of all businesses in the country. They offer employment to millions of citizens and contribute immensely to the economy. As the gig economy continues thriving, financial institutions are seeing a booming market that can generate massive returns from small businesses.

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Big Data and Small Business

According to Fox Small Business, despite all the hype about “big data” small businesses should only concern themselves with the data that matters to their business. Information that improves their customer service or business operations is all that really matters. Read more...

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