15 Feb 2024
The economic conditions of Pakistan are not promising. Therefore, over 9 million Pakistanis are living and working abroad to support their families financially. Ireland has become the biggest country of attraction, offering better educational, employment and healthcare facilities. The Embassy of Pakistan in Dublin, Ireland, stated that over 15,000 Pakistani migrants live and work in Ireland to earn a living and enjoy better opportunities. Their prime motivation is to send money to Pakistan from Ireland to offer financial support back home.
What do you think is the best way to transfer funds when it comes to sending money abroad?
Well, dazzling technology answers the question of ‘FinTech solutions’!
FinTech has surpassed all other means of money transfers, be it bank transfers, money orders, wire transfers and bills of exchange.
However, what is FinTech? Can it help Pakistani migrants abroad achieve their goals? What are your goals as a Pakistani migrant in Fintech?
Keep reading to ascertain the answers to these fascinating questions.
FinTech is comprised of two words: Finance and Technology. Together, these two words make FinTech. FinTech refers to any app, technology, or software that allows you easy and digital access to your financial matters and helps you manage, gain insights or make financial transactions.
Rapid technological advancements over the past few decades have given rise to FinTech in the form you know and understand today. However, relatively older versions of Fintech have existed in the past. An example is the first telegraphic money transfer carried out by the Western Union in the mid-19th century.
A quick look at the advantages of using FinTech for financial matters worldwide will amply reveal its importance.
With FinTech becoming increasingly entrenched in life, migrants make optimal use of it. This especially includes Pakistani migrants who use different FinTech means to send money online to Pakistan from Ireland to offer financial support back home.
People using FinTech from across the world had the following to say about their experience with FinTech for Financial purposes:
With the constant evolution in technology, including FinTech, more and more people are drawn to the latest FinTech for their financial matters.
As mentioned earlier, FinTech can take many forms and serve you financially in several ways. However, the following components of FinTech are commonly used and are almost integral to every FinTech product or service.
APIs safely and securely connect your bank account to the FinTech app or service you want to use. Once you are connected, these APIs help you share financial data, conduct identity verifications and transfer funds.
Almost every FinTech company and institution has launched FinTech mobile apps. These apps are available for both Android and Apple operating systems. These apps allow you to access your funds for insights and a host of other purposes at any time.
Some of the FinTech companies, some not all, offer you a web-based solution alongside mobile apps. You can log in to the official websites of these FinTech companies and enjoy almost the same services an app offers you.
ACE Money Transfer is an example of a FinTech offering both solutions.
Since its launch, FinTech has never remained confined to one financial product or service. It has been constantly evolving, which has led to the launch of the following FinTech products and services:
Most Pakistanis travel to developed countries like Ireland to earn a living and offer continuous financial support in every money transfer from Ireland to Pakistan. But that’s not it. You travel abroad for certain goals, some of which are discussed briefly below.
One of the first goals is to manage your finances to help you secure your future financially. Won’t you agree? Let’s face it. What would you do if you retired tomorrow from your job abroad, considering you have nothing to secure your future with?
Therefore, your top goal is to financially secure your and your family’s future.
The other equally important goal that you have as a Pakistani migrant working in Ireland is to save money and find prospective investment opportunities. Here, the role of FinTech goes well beyond transferring funds across borders.
Remember that investment opportunities appear briefly; if you miss them, they will disappear as quickly as they appear. To grab such an opportunity, you need to have ready access to your funds.
For this, every 7-second online money transfer to Pakistan from overseas can be helpful.
FinTech not only helps you achieve your goals as a Pakistani migrant working in Ireland, but it has changed the global financial landscape altogether. Even it has affected the financial behaviors of billions of people worldwide.
FinTech has made banking easier and smarter for you. Banking does not only mean you must sue banks for money transfers. It means that the financial matters of banks overall have become easier.
FinTech increases safety and security. If you are looking for the safe transfer of your funds from one place to another then FinTech is the right solution for you. But, when choosing a FinTech company, exercising care is an essential element.
While trying to achieve your goals as a Pakistani migrant in Ireland, you become prone to making financial mistakes with grave implications. FinTech, however, reduces the margin for making mistakes in financial mistakes.
One of your goals as a Pakistani expatriate in Ireland or elsewhere is to save money. Whether in overall financial matters or when sending money online, FinTech helps you save money and achieve the goal of saving money.
FinTech also helps you budget more transparently and detect anomalies in managing your financial matters if found. Without FinTech, you will continue with your financial management without even realizing you are in error.
Having ready and quick access to your finances makes it easy for you to control them more effectively and easily. FinTech allows you to control your finances directly and more efficiently, making achieving your goals much easier.
FinTech allows you to make your online money transfer from Ireland to Pakistan easily and conveniently. Doing so with ACE Money Transfer, whose services are rooted in the ever-evolving dazzling technology, will offer you immense benefits. This includes live and market-competitive currency exchange rates, safety, and low fees. It also offers 24/7 service access and availability in over 100 countries, with a transfer speed of just under 7 seconds! This speed is a befitting response to helping you achieve your goals because such fast transfers are the equivalent of having cash at hand for all practical purposes.
FinTech is the combination of Finance and Technology. FinTech is any app, company, product or service that helps you manage your financial matters digitally. FinTech is any technology that helps you move funds through virtual means.
Several surveys have proven that many people worldwide are comfortable with FinTech. Its primary benefits are saving time, controlling your finances, saving money, reducing stress, and marginalizing financial mistakes.
Some of the main components of FinTech are Application Program Interfaces (APIs) and mobile apps that you can easily download and install on your smartphone. It includes a web-based solution allowing you to access FinTech services from a company’s official website.
Some of the main and most commonly used FinTech types and products are FinTech bank's digital and virtual payments. It further includes personal financial management (PFM), wealth management, FinTech lenders, and Embedded finance.
FinTech can help you, a Pakistani migrant working in Ireland, to make an online money transfer through various ways and beyond convenient remittance transfers. It makes banking easier, safer and more secure of funds, saving money, and reducing financial mistakes. It requires fast recovery from financial damage, transparent budgeting, and controlling your finances more effectively.
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