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As a matter of fact, some believe that the industry is already saturated with ideas. However, there is still much FinTech can do for other industries. On the other hand, the education sector has also experienced a great change and significantly contributed to the economy globally. The education industry is still yet another industry that has not incorporated FinTech services fully. There are various sections of the educational industry where FinTech services can be fully integrated. In an age where accessing finance and carrying out transactions is becoming increasingly difficult through traditional banks, the educational sector can incorporate FinTech activities into their activities. In this article, I look at how FinTech can help maximize various opportunities in the educational sector.
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For instance, entrepreneurs can build a robust e-commerce store for schools to sell any kind of digital and manual products or services. Teachers and course creators can use school’s e-commerce platform to sell their ebooks in both downloadable and non-downloadable formats. Hence, students or parents can visit school e-commerce platforms to buy these courses, ebooks, and hardcopy texts.
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For instance, an academic institution can have a digital platform, something like a crowdfunding site, for investors and funders to survey the latest innovative projects done by university students and academics to them. For example, a researcher can sell the idea that he is building an electric car on a school’s crowdfunding site, which will cost $5000 to build, and the potential profit is $ 5 million. Sites like this are legitimate because, these projects are verified.
Final WordsThere is so much FinTech that can be incorporated into the educational sector. In this article, we highlighted four important areas FinTech can help the educational system: payroll, digital payment, e-commerce and crowdfunding. Featured Image Source: TechEconomy.ng
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