How to Manage Disruptive Innovation

The term “financial technology” is used when new pieces of technology affect the way in which business transactions is conducted. The invention of money, for instance, was the first financial technology. The way money is managed changes all the time, and this is particularly true thanks to the widespread availability of the internet. Today, financial technology even includes mobile apps, which just goes to show how far it has come.

Consumers have high expectations in terms of how they manage their money and conduct transactions. Unfortunately, many companies are finding it difficult to keep up with the available developments or to meet consumer demands. One company that sets itself apart from that, however, is Prescott Regency, who have been at the forefront of cutting edge financial technology for many years. They are an international company who work with both fiat and cryptocurrencies. Interestingly, they have set themselves the mission of eradicating world poverty by ensuring everybody is able to access high quality financial services.

Disruptive Innovation

Financial technologies are incredibly important and they are all designed to make life easier for everyday people. However, sometimes, these innovations are disruptive, meaning they have a huge impact on how transactions work. For instance, the internet is an example of a disruptive innovation, which has greatly changed the way in which businesses operate. It quickly became apparent that those companies that did not go online would see a significant negative impact on their bottom line. It was a disruptive innovation, therefore, as well as a disruptive technology.

Businesses have to work with two different types of technology: disruptive and sustainable. The latter is the type of technology that enables a company to improve its operations incrementally across a set and predictable period of time. The way businesses incorporate these ensure that they continue to be competitive and meet current market trends. Disruptive technologies, by contrast, cannot be planned for or anticipated. If businesses don’t respond to them in the right way as and when they occur, then businesses can end up going under.

It can be very difficult to properly adapt a disruptive innovation. Businesses must be focused on how technology can be implemented and how it can benefit them. There are some companies that have gotten this completely right, like Facebook, Google, and Amazon. These companies are now global leaders, because they had the foresight to monetize on new innovations and opportunities. Prescott Regency is a company that has been equally focused on this, and equally successful.

Who Are Prescott Regency?

The company is one that offers a full solution for financial transactions, combining blockchain cryptocurrency technology with traditional methods of payments, all put together in a digital platform. Some of the services they offer include:

  • A digital asset platform that can manage different currencies.
  • The ability to buy and sell digital assets, including debit cards.
  • Mobile apps.
  • More

The company is industry leading, focusing strongly on processes and security. They enable instant payment processing, including for withdrawals, deposits, and digital assets. Those are just some of the advantages that the companies offer.