FINTECH BASICS
Fintech startups are designed to challenge, and eventually take over, traditional financial services by:
-Being quicker to comprehend -serving an underserved segment of the population -providing faster or better service
Traditional Global Banking
Within Fintech, a majority of the money still lies in the
Fintech Different Sectors Examples
-Education -Retail Banking -Fundraising and Nonprofit -Investment Management
Examples of Fintech
-Stock Trading Apps/Websites -Peer-to-peer lending sites -robo-advisor services -all-in-one personal finance management/budgeting tools -crypto apps
FinTech (Financial Technology)
-new technology that seeks to improve and automate the delivery and use of financial services -utilized to help companies, business owners, and consumers better manage their financial operations, processes, and lives
FinTech Four Categories of Users
1. B2B for Banks 2. B2B for Bank's clients 3. B2C for small businesses 4. B2C for consumers
Crypto
Fintech includes the development and use of
Consumer-orientated services
From 2018 to 2022, there was a shift of
What is Fintech composed of?
Specialized software and algorithms that are used on computers and smartphones
B2B
business to business
B2C
business to consumer
P2P
peer-to-peer lending
When FinTech emerged in the 21st century, the term was initially applied to:
technology employed at the backend systems of established financial institutions, such as banks
The most talked about (and most funded) fintech startups share one characteristic:
they are designed to challenge, and eventually take over, traditional financial services