Thursday, March 11, 2021

Investing in Fintech

There are various instruments where we can put our money in. Some people prefer to save their money at the banks while some prefer to invest their funds in stocks. Either way is just okay. However, as the technology advances, we presently have a new way of investing our money. We can now buy bitcoin or other digital investment opportunities. 

I personally just tried buying a contract at a financial technology firm, called Ethis. This is an Islamic financial technology company based in Singapore offering both funding and investment opportunities. If your company needs financing, you may apply to this firm. Go to their website ( any try. 

My motivation of trying to invest in fintech firm, in addition to getting some returns, is to know their business model. Now, I know how to be the investor at fintech firm. Frankly, it is not hard but it's quite procedural. First, I had to register in their website by filling the form and uploading ID card and so on. Then, they would verify my identity. Having obtained verification, I could then select any project to invest in. The project ranges from commercial property and business offices or buildings. As Ethis follows Islamic rule, so the projects are surely sharia compliant.

After selecting a project and mentioning the amount of money we are willing to pour in, they prepared some documents for me to be read and signed. They use digital signature mechanism and this is quite plus point anyway. This process took 2-3 days, if I am not mistaken.

It didn't take long time for me to read and sign the documents (contracts). Having signed them all, I had to wait some time for getting the bank virtual account where I would transfer my money. Since I selected BNI bank when registering, they emailed me the BNI virtual account so I didn't have to pay for the administration fee.

Well, what is the impression of investing in fintech? To me, it is quite a bit challenging since the process took quite some time and different from buying stocks. Maybe I will feel more comfortable if I invest for the second or third time. I may also consider investing at other fintech firms because there many companies that we can choose from the list of OJK (financial service authority)

So, how about you, do you have any desire to start investing in fintech firm?  

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