What is FinTech?

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  • FinTech is an acronym for Financial Technology

 

  • FinTech is the use and application of technology within the financial services industry

 

  • The different sectors within FinTech, include;
    • Insurance
    • Lending
    • Security
    • Foreign Exchange
    • Data & Analytics
    • Wealth Management
    • Compliance
    • Cryptocurrency
    • Personal Finance
    • Capital Matters
    • Payments
    • Real Estate
    • Blockchain

 

  • FinTech aims to change the traditional way of doing things in the financial services industry by using technology to automate them

 

  • FinTech companies include start-ups as well as the traditional financial services companies

 

  • FinTech regulation is still a grey area as start-ups are not always your traditional banks etc, therefore they are not privy to the same regulation as them.

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