Fintech, a blend of “financial” and “technology,” refers to the use of technology in the design and delivery of financial services and products. It encompasses a broad range of applications, from mobile banking and peer-to-peer payment platforms to cryptocurrency and blockchain technology.
We’re not trying to reinvent the wheel; we’re trying to perfect it.
Dan Schulman, CEO of PayPal
In Simpler Terms
In the world of fintech, you can go the entire day without once reaching for your physical wallet. Coffee in the morning? Paid with your phone. Splitting lunch bill with a friend? A quick transfer through a mobile app. Investing in stocks or checking your savings? All done through sleek, user-friendly apps. This is fintech at work. The first fintech innovations trace back to the 1950s with the introduction of credit cards. Today, it spans technologies like blockchain, artificial intelligence in robo-advisors, and even platforms that allow you to round up your change to invest in stocks.
