There has been a lot of revolutionary innovative and disruptive technologies surrounding the way financial services are being conducted from the start of 21st century. This technology that applies to financial services sector in today's world is referred to as FINTECH; a word that simply comes from the term financial technology. It involves any innovative technology related to banking, investment, financial education and even cryptocurrencies;bitcoin and altcoins.
Fintech is a technology that helps the way consumers interact with the backend of investments,banks and trading firms. It has been on the rise and it is widespread today because of internet and mobile revolution as people use fintech services daily. It has really made the way we do business digitally easier and faster. Fintech has truly disrupted the way we interact with products and services.
Fintech services seen today include cryptocurrencies, robo advisors, blockchain technology, smart contracts, insurtech and lots more. Users of fintech products and services are businesses, banks and consumers.