Skip to main content

What is Financial Technology - FinTech?



Financial technology, or fintech​, is a financial services sector that emerged in the 21st century.
Essentially, fintech is any technological innovation in the financial sector. This can include advances in financial education, retail banking, investment and crypto-currencies.
Examples of fintech include:
  • Stock trading apps and websites,
  • Peer-to-peer lending sites that open competition for loans, thereby reducing rates,
  • Robo-advisor services that provide online, algorithm-based portfolio management,
  • All-in-one online personal finance management, and
  • Budgeting tools.
Fintech has four categories of users:
  • Business-to-business for banks,
  • Business-to-business for banks’ clients,
  • Business-to-client for small businesses, and
  • Business-to-client for consumers.
The fintech industry is growing rapidly, and its growth is expected to continue. 

--- Investopedia

Comments

Post a Comment

Popular posts from this blog

Ripple (XRP) vs Stellar Lumens (XLM)

Considerations when deciding between XRP and Stellar Lumens With strong financial backing and a long list of partners,  Ripple  has attracted plenty of attention not only in the cryptosphere but also across mainstream media. But any analysis of Ripple inevitably draws comparisons with  Stellar Lumens (XLM) , another crypto giant focused on offering fast, reliable and affordable global payments. There are plenty of similarities between Stellar and Ripple, but also a few key differences. Read on to find out how these two cryptocurrencies stack up against one another and decide which project is best placed for success. Disclaimer:  This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. XRP vs XLM: The breakdown XRP (XRP) XRP Stellar Lumens (XLM) Stellar Lumen Description XRP is designed to offer ...
2 comments
Read more

How To Keep Your Cyrptocurrency Safe

The Verge  has a recent article that could send shivers down the spine of anyone who invests in digital currency. An online storage site for cryptocurrency was attacked by a hacker, and over $1 million worth of Bitcoins were stolen. An ominous headline accompanying the article reads, “Users Very Unlikely to Ever See Their Money Again.” This isn't the first time something like this has happened, and—let's be realistic—it's not likely to be the last. We aren't telling you this as an attempt to sound a death knell for cryptocurrency in general, but we are holding it up as an example that electronic financial tools are vulnerable if they aren't adequately protected. Two aspects of cryptocurrency that are pushed by its advocates to potential investors can also make it more susceptible to hacking, as recently discussed in  Bitcoin Magazine . 1. It's not linked or connected to any bank or government—which also makes it devoid of protection. As of yet, there's ...
Post a Comment
Read more