Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
65 views2 pages

Fintech Innovations Overview

Fintech refers to technology-enabled financial innovation that impacts financial markets and services. Major areas of fintech innovation include payments through mobile apps from Apple and Alibaba, peer-to-peer lending platforms like Lending Club, robo-advisors for investment management, and using data analytics to manage risks.

Uploaded by

Aishwarya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
65 views2 pages

Fintech Innovations Overview

Fintech refers to technology-enabled financial innovation that impacts financial markets and services. Major areas of fintech innovation include payments through mobile apps from Apple and Alibaba, peer-to-peer lending platforms like Lending Club, robo-advisors for investment management, and using data analytics to manage risks.

Uploaded by

Aishwarya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Fintech Report Study

1. What is Fintech? What are the major areas of financial activities wherein the Fintech
Companies have brought in innovations?

Ans= According to Financial Stability Board (FSB), of the BIS, “FinTech is technologically
enabled financial innovation that could result in new business models, applications,
processes, or products with an associated material effect on financial markets and institutions
and the provision of financial services”.

Fintech: Fintech is a term used to describe financial technology, an industry encompassing


any kind of technology in financial services - from businesses to consumers.

Initially, fintech referred to technology that was applied to the back-end systems of banks or
other financial institutions - but has since grown to encompass a plethora of other
applications that are more consumer-focused. In 2020, it is possible to manage funds, trade
stocks, pay for food or manage insurance through this technology.

Fintech describes any company that provides financial services through software or other
technology and includes anything from mobile payment apps to cryptocurrency.

Broadly, fintech describes any company using the internet, mobile devices, software
technology or cloud services to perform or connect with financial services.

Many fintech products are designed to connect consumers' finances with technology for ease
of use, although the term is also applied to business-to-business (B2B) technologies as well.

Fintech innovations in financial areas:

Financial Areas Fintech Companies Innovations

Payments, Clearing & Apple and Alibaba got in on Mobile and web based
Settlement the mobile payment business payment application,
with Apple Pay or Alipay. Digital currencies
(DCs), Distributed
ledgers Technology and
Block chain Technology
Deposits, Lending & capital Splendit & Lending Club Peer-to-peer (P2P)
raising lending, Crowd funding,
Market provisioning Yoodle Smart contracts, E-
Aggregator, Cloud
computing, Big data
and Artificial
Intelligence (AI) &
Robotics
Investment management Intuits Robo advice and E-
Trading.
Data Analytics & Risk Charles Schwab Managing credit risk.
Management

You might also like