Financial technology, or fintech, in the broadest sense of the
word involves the use of software in the provision of banking and
financial services. The transformative nature of the fintech sector
is the manner in which fintech companies use financial technology
to disrupt the way traditional financial companies do business.
The fintech sector has rapidly developed with innovation in
multiple sub-categories, driving adoption in sectors such as
insurance and regulation as well as the continued development of
blockchain technology within distributed ledger technologies,
digital currencies and other digital assets, and there has also
been the emergence of entirely new models of funding. The
utilization of initial coin offerings (ICOs), the tokenization of
assets, and other token funding methods have created complex legal
and regulatory challenges in many jurisdictions.
