How M1 can help fintech businesses

7th December 2021

How Can FinTech Companies Benefit From Apple’s M1 Technology?

Stan Milanovich

The M1 chips from Apple provide many advantages for businesses of all types.

M1 Max With the advanced pro range chips, including M1 Pro and M1 Max, inside state-of-the-art Macs, businesses can achieve new heights. Apple Silicon’s first chip, M1, has enabled outstanding speeds by innovating SoC architecture. M1 Pro and M1 Max have taken speed, power, and energy efficiency even further with larger chips, more GPU cores, more transmitters, and more integrated memory.

Companies in sectors with particularly high-power needs will be especially curious about the M1 Pro and M1 Max. When most people think of these companies, their attention might primarily be on creative industries. Creators like graphic designers, game developers, architects etc. historically come to mind when thinking of Apple and this is emphasised by the powerful abilities of the M1 Pro chip and M1 Max.

However, another crucial industry with high power needs for their hardware is Fintech. Most Fintech companies have technical needs when it comes to their computer equipment. They need a very high standard of power, speed, and security due to the transactions that often take place on their platforms.

Fintech is a technology that enhances and automates access to, and delivery of, financial services. For many years Fintech was associated purely with the back-end systems of financial institutions, however, technology advances and the popularity of convenience and apps have resulted in a more customer-orientated industry. Think of the prevalence of PayPal and online banking. Fintech is crucial to both.

 

Macs, Security and Fintech

Macs have long been a favourite of Fintech companies thanks to their reputation for outstanding security. Any industry involved with finances must have iron-clad cyber security and none more so than Fintech. This is because financial services often deal with and manage large important financial assets within new technological frameworks. These systems must be secure and foolproof or otherwise face disaster.

Fintech now covers many different financial services, including:

  • Online banking

  • Payment services and online wallets e.g., PayPal, Apple Pay, Google Pay

  • Cryptocurrency e.g., bitcoin

  • Blockchain tech

  • Smart contracts

  • Open banking

  • Peer to peer lending

  • Money transfers

  • Mobile payments app

  • Applying for credit

  • Mobile insurance services and insurance tech

  • Raising money

  • Managing investments

  • Robo-advisors

With advances in Fintech over the last few years, all of the above are now possible, generally without the assistance of a person.

At its core, Fintech is responsible for innovating financial services, making it more convenient and ultimately usurping old, entrenched institutions. The result is faster and more nimble services that make our lives easier.

So, why would the Fintech industry require such powerful computer hardware?

M1 chip CPU fast The industry, by its very nature, deals with some complex systems. Fintech often relies on machine learning, artificial intelligence, big data, data analysis, robotic process automation, innovative programming, and extensive cyber security. The creation and management of Fintech platforms and products tend to be fairly heavy-duty and highly technical. In short, their creation is power-hungry work.

The latest technology from Apple Silicon will help Fintech teams elevate their work, especially in terms of productivity and security. Fintech companies should be especially interested in Macs with M1 Pro chips and M1 Max chips that will really offer that edge in terms of power, productivity, and efficiency.

Apple has a strong interest and understanding of Fintech. Thanks to this, there is a great deal of interest in making Apple products suitable for the demands of Fintech companies. After all, just as Apple tech can help Fintech advancements, it also works the other way around in a highly symbiotic relationship. Advancements in Fintech are helping Apple reach new heights, such as the ambitions to turn iPhones into mobile payment portals. With Apple Pay becoming more popular, Apple is stepping into the world of Fintech more and more.

Hardsoft has extensive experience with supplying Apple products as part of our leasing solutions. We can help Fintech companies by evaluating which M1 devices will be right for their team, configuring them and deploying them friction-free.

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