Kanishka NaikFintech cuts financial service costs by removing intermediaries, automating processes, and operating without physical branch networks.
Banks average 7.46% for mobile-access remittances vs. 4.4% via mobile money (Q2 2023). The UN SDG target is 3%. (Migration Policy Institute / World Bank)
Without physical branches, fintech platforms reduce overhead and pass savings to users. Wise charges ~0.5–1% on transfers vs. bank fees up to 12% on some routes.