10-10-2017, 10:17 AM
Financial technology (FinTech or fintech) is new technology and innovation that aims to compete with traditional financial methods in the provision of financial services. The use of smartphones for mobile banking and investment services are examples of technologies designed to make financial services more accessible to the general public. Financial technology companies consist of start-ups and established financial and technology companies that attempt to replace or improve the use of existing financial services in financial companies.
After reviewing more than 200 scientific articles citing the term "fintech", the most comprehensive scientific study on fintech's definition concludes that "fintech is a new financial industry that applies technology to improve financial activities." FinTech are the new applications, processes, products or business models in the financial services sector, composed of one or more complementary financial services and provided as an end-to-end process through the Internet.
After reviewing more than 200 scientific articles citing the term "fintech", the most comprehensive scientific study on fintech's definition concludes that "fintech is a new financial industry that applies technology to improve financial activities." FinTech are the new applications, processes, products or business models in the financial services sector, composed of one or more complementary financial services and provided as an end-to-end process through the Internet.