The FinTech also called, Financial Technology or Financial
Services Technology sector became a very dominant sector all over
the world. Global investments in the FinTech sector are growing at
a fast pace. According to a report prepared by IDAL there were
around 1130 fintech companies in the world in 2016. Most of those
companies were specialized on payment and investment
activities.
What is FinTech and why does it matter to the business
world?
FinTech refers to an emerging financial services sector, which
is using Information Communication Technology (ICT) and technology
innovations to enhance the traditional banking and financial
services sector and to create new and better services for both
consumers and businesses. It encompasses various services, such as:
mobile and online banking; payment and money transfer platforms;
lending and capital raising platforms; blockchain and
crypto-currencies; insurance services etc. In a way, Fintech
companies compete with the
