Financial technology ("FinTech") is a broad term that
encompasses many kinds of technology across many industries. It includes
hardware and software, apps and analytics, and solutions for
companies of all sizes. Because FinTech plays a role in virtually
every kind of company, it is worth taking the time to understand
its position in the world economy.
1. Everyone Uses It
The financial sector is the most obvious place one would look to
understand FinTech’s rise in prominence. Indeed, large banks
and lenders in many ways lead the growth in demand for FinTech
solutions, and have developed many of them. But if you look at the
opposite side of the coin, every kind of company relies on
financial applications. Companies in all industries look for
better, more efficient ways to collect revenue and make payments.
Much of this is now paperless, meaning that cloud technology,
smartphone and tablet apps, and on-site hardware solutions matter
to anyone whose business involves
