FinTech

Friday, 20 January 2023

Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" of fintech.

The word “fintech” is simply a combination of the words “financial” and “technology”. It describes the use of technology to deliver financial services and products to consumers. This could be in the areas of banking, insurance, investing – anything that relates to finance.

FinTech (Financial Technology) is a rapidly growing field that is transforming the way we interact with financial services. Here are some key insights on FinTech:

FinTech is changing the financial landscape.FinTech companies are disrupting traditional financial institutions by offering innovative products and services that are often more convenient, cost-effective, and accessible than traditional banking services.