Technology and finance have been coming together in a big way, and we have previously reported on many efforts in this growing space. The combination of financial services and modern technology is so big that it has been given its own techy term – fintech.
Fintech is already being used by some of the biggest banks and brokerage firms in the industry, but a number of smaller firms are also taking note of its power. Now a new startup, dubbed Datarius, hopes to capitalize on this growing market, bringing tech to not only financial advisors but their clients as well.
As the team at Datarius sees it, differentiation is their main selling point and their top competitive advantage. When we asked the Datarius for comment, this is what they told us:
“Our main goal and the main difference from other projects are fintech socialization.”
The socialization of finance is already a growing field of interest, both among financial professionals and ordinary investors. Financial experts have long understood the powerful role psychology plays in the market, and the socialization of finance takes things to the next level. Once again, the team at Datarius stress their unique part in the marketplace. As they told us recently:
“We are the only ones who declare the socialization of the fintech among many other Cryptobanks.”
This differentiation is what gives Datarius is power, and it could prove to be a strong competitive advantage going forward.
Another major selling point for Datarius is the ability to set customized limits, including dollar amounts, transactional limitations and so on. Datarius members are also free to choose their own personal managers, allowing them to manage their finances as they see fit.
Datarius members can also add their own customized services, all while retaining a level of control that has often been hard to come by. This combination of freedom, flexibility, and financial norms could allow Darius to become one of the leaders in the fintech field, even as competitors flood into this still new marketplace.
Another differentiating feature of Datarius is the way it handles orders. Once again, we turned to the team at Datarius for comment, and they told us:
“Datarius also will provide automatic package closing of offsetting orders (at the user’s request), as well as the assist at the closing to expedite the interaction. This means that if a number of offsetting orders meets the user’s requirements, such orders will be closed automatically, and if there are orders in the system that do not meet any criteria, they will be shown to the initiator and automatically recommended for acceptance.”
This unique approach to closing and handling orders is designed to streamline the process and make things easier for their clients. By incorporating the well-known P2P model and adapting it to the unique needs of fintech, Datarius hopes to use blockchain to take client service to the next level.
Datarius also takes a unique approach to the P2P model, proposing three listings, each with a different trust level. One level will contain borrowers who have been minimally verified using the system’s algorithms, while the highest level of trust will feature totally transparent borrowers, those who have been thoroughly reviewed by the Risk Department.
This unique approach to fintech is one of the differentiating features of Datarius, and, the team hopes, what truly sets them apart. At any time, Datarius users will be able to order a number of related services, including a thorough evaluation of their project partners, a customized evaluation by the Risk Department and evaluation by a team of user-managers.
When the results of those evaluations are complete, they will immediately be made available to other users, creating an even playing field where everyone can share in, and benefit from, the risk. This is another differentiating factor from others in the fintech field – competitors in the space often keep the information they gather close to the vest.
The team at Datarius is certainly proud of the company they have built, they told us:
“We’re all very tired of the greedy and covetous bankers. Therefore, we set the full freedom of choice and lack of imposing services as a top priority, acting only as a mentor and guide. We want to show that fintech can be completely different – transparent, accessible, socially oriented, simple and at the same time it can meet all market demands.”
The team also stresses that their goal is to put the power into the hands of their users. Their comment in this regard included this:
“The whole system is aimed at making the interaction between users possible without involving the team core. Datarius reserves only the power to ensure the operation of the platform and to provide a wide range of related services. Thus, we plan to completely cancel out the shortcomings of traditional systems – lobbyism and the promotion of toxic bonds.”
It is easy to see how transparency could be a selling point, especially in the wake of the market meltdown and the housing crisis. With that meltdown just a decade behind us, many investors are still skittish about entering the marketplace. By allowing ordinary investors to control their risk and enjoy complete access to information, Datarius hopes to raise the bar – and revolutionize the world of fintech.