Analysis of financial technologies as a tool for sustainable development

Viktoriya Dyukova,Elizaveta Shainskaya,Vladimir Syrovatsky,A.D Nazarov

doi:10.1051/e3sconf/202129501040

Abstract

The organization of the finance area is a challenge for companies in any sector. Balancing costs and income is one of the prerequisites for those looking for better profit margins, but it requires the administration of various aspects that do not always fit into a simple financial equation. Different processes and possibilities need to be explored. As you can see, money is the main character in this section. Here you will find articles on the organization of the income and expenses of your business. Working capital (also called working capital), bank credit, cash flow management and taxes are also topics covered in our practical advice. Some recommendations related to accounting are also presented. All this to help you perfectly control the financial operations of your company. And allow you to adapt the equipment and resources so that finances are in order and can consolidate the results and achievements of the rest of your business.

Highlights

In the initial phase of a business, it is common for entrepreneurs to have to resort to a reserve of money to meet financial commitments, since the profits are not immediate
It is impossible to analyze the sector without considering the impacts of the new financial technologies and the entrepreneurs and financial technology (Fintech) companies that are implementing them
These are the new stakeholders competing with traditional financial institutions and challenging their largely established business models. While it is still unclear whether the sector is transformation will occur through competition or cooperation between them, the changes that this technological revolution entails are irreversible. This dynamic of unstoppable changes constitutes a series of good news for Latin America

Summary

Introduction

In the initial phase of a business, it is common for entrepreneurs to have to resort to a reserve of money to meet financial commitments, since the profits are not immediate. An additional reflection of lower levels of efficiency and competition from the Peruvian financial market, is the high interest rate spread, which in the case of Peru it amounts to 14.4%, well above the average exhibited by countries Latin America (8.7%) and the OECD (3.3%) In this way, the low depth and efficiency of the market local financial affects the dynamics business, through lower productivity and accumulation capital, especially for firms with greater difficulties in accessing financing [3]. The low depth and efficiency of the market local financial affects the dynamics business, through lower productivity and accumulation capital, especially for firms with greater difficulties in accessing financing [3] Added to this is the high costs of financing in Peru, especially for smaller firms such as microenterprises, which can get to pay interest rates annually on average 4-5 times more than big companies. We have factoring ventures and financial technology (Fintech), the same as given its characteristics, ductility and simplicity, they are being configured as financing options mainly for companies of less size

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Conclusion