What is Financial Technology? An Introduction to Fintech
What is Fintech? Financial technology (better known as Fintech) is a label accustomed to new technologies that enhances and facilitates the use of financial services to businesses or consumers. Simply put, it is a term that describes apps and websites that help us make payments. The fintech industry includes everything from payment processing solutions to mobile banking apps. The term "Fintech company" is a business venture that utilizes technology to improve the delivery of financial services and processes. Fintech comprises diverse technologies, centralized by the principal intention of refining the traditional financial services with improved practices and techniques. Through these technologies, it is possible to manage funds, trade stocks, pay for food or manage insurance. How does Fintech work? Businesses are no longer limited to implementing old-school ways or conventional ones, all thanks to the fintech revolution. Fintech has simplified financial transactions making ...
