Precisely what is Fintech? – Definition and Meaning

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Fintech is often a mixture of two words namely “Finance” and “Technology”. Fully, it is called Financial Technology. It is often due to technology innovations in the financial industry. Put differently; it describes the convergence of finance and technology – or ways in which technologies are improving entry to finance, from making payments, currency, peer to look lending and also wealth management.


The season 2008 was the dawn of the major evolutionary alteration of the financial technology industry. This is a result of the collapse of the unsustainable banking system that took lots of risks in its hunt for profits. Lehman Brothers were bankrupted, swiftly then emergency rescue promises to save major street names for example HBOS, Merrill Lynch, AIG, Royal Bank of Scotland and Alliance & Leicester.

This crisis opened up the opportunity do things differently. Previously financial technology was an in-house enterprise for your banks. The creation of credit cards in the 1950’s, ATM’s in the 1960’s and electronic trading in the 1970’s were all driven internally by major players in the banking industry.

The failure in the banking system gave rise into a large number of financial technology upstarts. New companies which planned to see change and even more importantly remove traditional barriers that the banking system had built. This rise in financial technology was quickly labelled as fintech.

Fintech covers an enormous spectrum of innovation. Digital wallets, peer-to-peer lending, crowdfunding, micro-loans, insurance and infrastructure are just a few areas where people are seeing room for innovation and disruption to conventional methods.

This rapid growth has built a booming financial technology industry and a lot of fintech conference 2017 online. Due to great number of companies which come under the umbrella of fintech it’s difficult to put a precise you’ll need the international value of this industry. Thankfully KPMG make a quarterly report called ‘The Pulse of Fintech’. This allows a worldwide analysis of the latest investments in the fintech industry. Their latest report claims that global acquisition of fintech companies reached an impressive $24.7 billion in 2016, spread across 1076 deals.

To learn more, check out this article on “what is fintech ?”
http://www.techbullion.com/what-is-fintech/