Ten years ago, if someone has to apply for a small business loan, for a mortgage, or just to transfer funds from one bank to another, he had to visit a bank or financial company to apply.
Today, fintech has made it possible to do all you want with your financial assets, invest, save, borrow and transfer funds through online and mobile services without going to the bank.
Though traditional institutions were slow to adopt fintech solutions, both startups and companies are betting on digitized financial services.
Financial technology "Fintech", is the term used to describe a technology that delivers financial services through software, such as online banking, and mobile payment apps. Fintech is a broad category that includes many different technologies, but the primary objectives are to change the way consumers and businesses access their financial assets and compete with traditional services.
Fintech has been around much longer than most people think. Now fintech allows you to pay for a cup of coffee with your mobile app, the history of fintech can be traced back to the earliest credit cards that were adopted by the general public in the 1950s.
After the credit card, fintech introduced several major milestones to the market, such as electronic stock exchanges, ATMs, bank mainframe computers, and online stock exchanges.
There are many different types of fintech like:
Mobile wallets and payment apps are some: like PayPal.
Google Pay allows transferring money and receiving payments from customers.
Crowdfunding platforms, such as Kickstarter allows platform users to invest their money in businesses.
Cryptocurrency and blockchain technologies consider one of the most well-known fintech
Some Insurance companies like Karma have entered the financial insurance market
Want to know more visit Talent Supplier blogs page to know more about software’s technologies
Today, fintech has made it possible to do all you want with your financial assets, invest, save, borrow and transfer funds through online and mobile services without going to the bank.
Though traditional institutions were slow to adopt fintech solutions, both startups and companies are betting on digitized financial services.
What is the meaning of fintech?
Financial technology "Fintech", is the term used to describe a technology that delivers financial services through software, such as online banking, and mobile payment apps. Fintech is a broad category that includes many different technologies, but the primary objectives are to change the way consumers and businesses access their financial assets and compete with traditional services.
Evolution of fintech
Fintech has been around much longer than most people think. Now fintech allows you to pay for a cup of coffee with your mobile app, the history of fintech can be traced back to the earliest credit cards that were adopted by the general public in the 1950s.
After the credit card, fintech introduced several major milestones to the market, such as electronic stock exchanges, ATMs, bank mainframe computers, and online stock exchanges.
Types of fintech
There are many different types of fintech like:
Mobile wallets and payment apps are some: like PayPal.
Google Pay allows transferring money and receiving payments from customers.
Crowdfunding platforms, such as Kickstarter allows platform users to invest their money in businesses.
Cryptocurrency and blockchain technologies consider one of the most well-known fintech
Some Insurance companies like Karma have entered the financial insurance market
Want to know more visit Talent Supplier blogs page to know more about software’s technologies