Today is World Health Day, and at Shasta, we would like to take a brief look back over the last year in which COVID-19 has been the main protagonist.

This March completed the first, and hopefully the last, year of the coronavirus, and since then, there have been very difficult times for the world’s population, not only in terms of health, morale and hope, but also economically.

COVID-19 has had a direct impact on the real economy of each country, which is progressively manifesting itself in the current financial sector as a result of the security measures imposed by the different governments around the world, such as the closure of certain economic activities, such as restaurants and leisure.

But while it is true that there have been many negative effects on the economy during this period, there are also some not so negative aspects, such as the boost given to digitalisation, especially in banking.

 

The digitalisation of banking 

Before this pandemic, the financial sector was already working to become a more digital sector, adapting to new technologies, but thanks to confinement, this process has accelerated.

Today, we can place the mobile phone as the main element of this new era, as who has not spent hours and hours on their mobile phone during this confinement? And not just on entertainment apps such as TikTok, Instagram or Netflix.

With the arrival of the coronavirus, the number of online payments via mobile phone has increased, to such an extent that, according to Efe professionals, this could be the most used form of payment in 5 years’ time.

This is thanks to the fact that Fintechs, which develop financial products, are continuously creating more innovative and customised services and products for the consumer, i.e. financial products or services that are closer to the individual, trying to satisfy and adapt to the real and individual needs of each customer.

 

Shasta, the financial solution 

For this reason, at Shasta, we adapt to new technologies and new business models, creating a personalised service for consumers, which tries to satisfy their needs and financial problems at all times and turning the App into an ally for the user’s day-to-day life… and all from your mobile phone!

Why do we say that fintechs adapt to users? 

At Shasta, for example, we offer a very complete financial service with which our users can enjoy a range of functionalities, available in Europe, the United States, Mexico and Venezuela, such as:

  1. Send and receive money from anywhere in the world.
  2. Register in the application with a valid passport, extension and identity card.
  3. Choose the payment method that suits you best (QR, transactions between Shasta contacts or bank transfers).
  4. Link bank accounts of the Banco Nacional de Crédito.
  5. Add money by credit card, debit card or current account.
  6. Make currency exchanges in euros and dollars without leaving the application.
  7. Holding a single multicurrency account.

In other words, at Shasta we offer a financial solution that aims to democratise finance by creating an app where the user has full control of their money.

If you were interested in this article and you want to know more about Shasta, please check our article “All features about Shasta App”
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