Fintech refers to digital technologies that have the potential to transform the provision of financial services spurring the development of new – or modify existing – business models, applications, processes, and products
Key Components
Financing: Fin Tech companies are changing the financing or lending process using crowd funding and credit & factoring. People can seek loans through online and get them approved quickly. Firms assess the borrowers’ credit worthiness and automate the underwriting process quickly.
Payments: Fintech companies allow consumers to send money cost effectively and quickly to each other without relying on banks via alternative payment methods or ....
