Financial Technology
A Financial Technology is an information technology that facilitates financial services.
- AKA: FinTech.
- Context:
- It can (typically) be applied by a FinTech Company.
- It can include:
- Banking Technology, such as Banking ERP, and Banking CRM.
- Payments Technology.
- …
- …
- Counter-Example(s):
- See: BFSI Company, Banking Industry, Upstart (Company).
References
2016
- http://techcrunch.com/2016/06/05/fintech-outlook-for-2016
- QUOTE: … The following categories illustrate how our team looks at the startups trying to change the financial markets:
- Banking tech (analytics, data management, CRM, security)
- Payments (mobile wallet POS, P2P money transfer, payment solutions)
- Cyber currency (blockchain, bitcoin, digital wallets, cryptocurrency exchange)
- Business finance (P2P business lending, credit lines, crowdfunding)
- Consumer finance (P2P lending, robo advisors, personal finance, credit assessment)
- Alternative cores (digital banks, alternative health insurance, alternative property)
- … We believe the two biggest long-term opportunities for startups are in replacing the banks and insurance institutions themselves. With new technologies, such as artificial intelligence and better data analytics, coupled with changing consumer mindsets, such as the growth of mobile smartphones and millennials hating traditional banks, these industries are ripe for disruption.
- QUOTE: … The following categories illustrate how our team looks at the startups trying to change the financial markets:
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/Financial_technology Retrieved:2015-7-6.
- Financial technology, also known as FinTech, is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.
Global investment in FinTech more than tripled to $4 billion in 2013 from $930 million in 2008. The nascent FinTech industry has seen rapid growth over the last few years, according to the office of the Mayor of London. Forty percent of London's workforce is employed in financial and technology services.
In the Asia Pacific region, the growth will see a new FinTech hub to be opened in Sydney, Australia, in April 2015. There is already a number of strong FinTech players like Tyro Payments, Nimble, Stockspot, Pocketbook and SocietyOne in the market and the new hub will help further accelerate the growth of the sector. A FinTech innovation lab is also being launched in Hong Kong to help foster innovation in financial services using technology.
- Financial technology, also known as FinTech, is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.