{"id":27752,"date":"2023-11-01T13:05:12","date_gmt":"2023-11-01T13:05:12","guid":{"rendered":"https:\/\/www.emizentech.com\/blog\/?p=27752"},"modified":"2023-11-01T13:06:53","modified_gmt":"2023-11-01T13:06:53","slug":"what-is-fintech","status":"publish","type":"post","link":"https:\/\/multisitelocal.ezxdemo.com\/blog\/what-is-fintech.html","title":{"rendered":"What is Fintech? A Brief Introduction"},"content":{"rendered":"\n

An amalgamation of terms \u201cfinancial\u201d<\/strong> and \u201ctechnology,\u201d<\/strong> Fintech is a new entrant that often applies to any emerging technology that assists consumers\/financial institutions in delivering financial services in more unique and faster ways than what was traditionally available. <\/p>\n\n\n\n

Earlier, while people were required to go to the bank to request their balance, now they can get this information in real-time on their phones. And this is what FinTech is all about. This evolution of technology allows consumers to go online & see their transactions, offer apps that enable users to pay friends, and tools that will allow the financial institutions to make quick lending decisions. <\/p>\n\n\n\n

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The total value of investments into fintech companies worldwide from 2010 to 2021(in billion U.S. dollars)<\/em>: Statista<\/a><\/figcaption><\/figure>\n\n\n\n

All in all, FinTech is a technology that empowers consumers to take control of their financial lives, resulting in greater financial literacy and empowerment. It helps advance consumers’ financial situation and outcomes by leveraging advanced technology. <\/p>\n\n\n\n

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