Fintech

<p><strong>Fintech, a clipped compound of &quot;financial technology&quot;</strong>.</p> <p>The word &ldquo;fintech&rdquo; is simply a combination of the words &ldquo;financial&rdquo; and &ldquo;technology&rdquo;. It describes <strong>the use of technology to deliver financial services and products to consumers</strong>. This could be in the areas of banking, insurance, investing &ndash; anything that relates to finance.</p> <p>Technology allows fintech companies to collect and store more information on customers so they may be able to offer consumers more personalised products or services.</p> <p><strong>Fintech</strong>, a <a href="https://en.wikipedia.org/wiki/Clipped_compound">clipped compound</a> of &quot;<strong>financial technology</strong>&quot;, refers to firms using new technology to compete with traditional financial methods in the delivery of <a href="https://en.wikipedia.org/wiki/Financial_services">financial services</a>. The use of <a href="https://en.wikipedia.org/wiki/Smartphone">smartphones</a> for <a href="https://en.wikipedia.org/wiki/Mobile_banking">mobile banking</a>, <a href="https://en.wikipedia.org/wiki/Investing">investing</a>, <a href="https://en.wikipedia.org/wiki/Debt">borrowing</a> services, and <a href="https://en.wikipedia.org/wiki/Cryptocurrency">cryptocurrency</a> are examples of technologies designed to make <a href="https://en.wikipedia.org/wiki/Financial_services">financial services</a> more accessible to the general public. Fintech companies consist of both <a href="https://en.wikipedia.org/wiki/Startup_company">startups</a> and established financial institutions and technology companies trying to replace or enhance the usage of <a href="https://en.wikipedia.org/wiki/Financial_services">financial services</a> provided by existing financial companies</p>