Fintech
Fintech
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 four key areas of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public.
How It Works Benefit For Projects
- Personalised service: they offer specific financial products and services adapted to the needs of the customer.
- Convenience and speed: they are able to offer real-time, 24-hour services every day of the year.
- Easy access to efficient, agile and simple paperless operations without having to leave the house.
- Technology that can guarantee the veracity and security of transactions from any device.
- Financial inclusion and democratisation of access to financial products: access to financial products does not have to be in person and can be digital, thereby improving financial inclusion.
- Transparency and fewer fees.
- New products and services, whether it is mobile payments, automated advice, access to credit through a participating platform, etc.