Quick Definition

Financial technology, or fintech, refers to the integration of technology into offerings by financial services companies to improve their use and delivery to consumers.

Examples

• 1Mobile banking apps that allow users to manage their finances and make transactions remotely.
• 2Robo-advisors that provide automated, algorithm-driven financial planning services with minimal human supervision.
• 3Crowdfunding platforms like Kickstarter and Indiegogo that enable individuals to fund projects or ventures by raising money from a large number of people.
• 4Payment services like PayPal and Venmo that allow for instant digital transactions between individuals and businesses.

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