IP Tech Knowledgy
A Brief Explanation of FinTech
The term “FinTech” is traditionally used to describe financial-related technology solutions that enable or improve banking or other financial transactions/services. FinTech includes online loan platforms, marketplace lending applications, mobile device apps that facilitate payments, and electronic wallets. FinTech solutions are rapidly evolving to facilitate the improvement of many financial transactions and processes. Banks and other financial institutions have been increasingly partnering with non-financial institution FinTech firms in an effort not to be left behind as financial products and related delivery channels continue to advance rapidly.