Innovation in Finance: The Case of NAGA

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The world of finance has undergone a profound transformation with the arrival of technological advances. Even in the more traditional models like banks and brokerage firms, technological adaptation has been noteworthy.

This has resulted in part because of the demands of a more advanced society and in part in order to take advantage of the benefits of digitalization. But there is another reason for this transformation: FinTech companies, which arose from the synergy between the worlds of finance and technology, have provided a wake-up call for these classic institutions. FinTech companies’ innovative capacity represents a threat to the institutions that, until recently, controlled this sector.

The appearance of FinTech companies and their competitive prices has resulted in a larger number of clients, thanks to their simplification of processes and their convenience of use for a variety of financial needs, such as access to financing, asset and estate management, investment, and economic and financial consultation.

But it’s not just about doing the same things that traditional companies do, only faster and cheaper. It’s also about emphasizing how they take advantage of the possibilities of technology and their capacity for innovation that creates added value.

A novel concept in a traditional sector

A novel concept in a traditional sector

The German company NAGA is a good example of the possibilities for merging the worlds of technology and finance, and of offering cutting-edge options to users through innovation that adapts to new forms of communication. Their app is more than an investment portal (its main focus): it has also become a social trading platform.

This innovative concept is based on the idea of facilitating contact between traders so that they can share advice, information and experience, something that was unthinkable in classic financial models where sharing information could only take place within small, tight-knit groups of people.

NAGA currently has a million clients. And while its main activity is investing in different areas such as CFDs (with shares in leading companies), Forex (currency exchange, Xauusd and others), raw materials, indexes, etc., the truth is that it seeks to give something more to its investors.

Besides its nature as a social trading platform, it also offers complete and updated information, training, and tools for all kinds of traders, such as NAGA Auto Copy. With this tool, less experienced traders can copy the transactions of those who are more experienced and successful.

Tools to complement investment

In order to take advantage of the opportunities presented by new technologies, NAGA Trading also incorporates tools to make the application as complete a platform as possible. NAGA Pay, for example, is an IBAN account associated with a Visa debit card that can be used to make payments. And NAGAWallet acts as a cryptocurrency wallet.

This environment offers a new experience for many lessknowledgeable traders, making the training and informational elements a key advantage. Safety and privacy, aspects that are obviously important to clients as well, are also addressed. In this respect, the NAGA app incorporates the most modern resources so that its clients can trade with peace of mind.

Additionally, their customer service is quite advanced in its ability to address concerns so that users can manage their transactions with confidence. Other advantages include NAGA’s intuitive design and a simple registration process. In short, NAGA is a good example of how technology has made traditional sectors evolve by providing new solutions and complementing existing ones through simplified processes and new tools that facilitate user activity. Moreover, they continually make improvements and incorporate new functions.

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