FINTECH

Financial technology (Fintech)

Definition :

Financial technology (better known as Fintech) is used to describe new

tech that seeks to improve and automate the delivery and use of
financial services. At its core, fintech is utilized to help companies,
business owners, and consumers better manage their financial
operations, processes, and lives by utilizing specialized software and
algorithms that are used on computers and, increasingly, smartphones.
Fintech, the word, is a combination of "financial technology."

fintech emerged in the 21st century, however, there has been a

the term was initially applied to the shift to more consumer-
technology employed at the back- oriented services and
end systems of established financial therefore a more consumer-
institutions oriented definition

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Understanding Fintech:
Since the Internet revolution and the mobile Internet/smartphone
revolution, however, financial technology has grown explosively.
Fintech, which originally referred to the use of computer technology
applied to the back office of banks or trading firms, now describes
a broad variety of technological interventions into personal and
commercial finance.

Fintech now describes a variety

of financial activities, such as
money transfers, depositing a
check with your smartphone,
bypassing a bank branch to apply
for credit, raising money for a
business startup, or managing
your investments, generally
without the assistance of a
person.
financial services institutions
offered a variety of services under
a single umbrella. The scope of
these services encompassed a
broad range from traditional
banking activities to mortgage
and trading services. In its most
basic form

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Fintech Evolution:

Fintech appeared for the first time in 2008, that is, after
the global financial crisis, after the decline of banks and
corruption scandals in them, which led to the emergence
of financial technology companies that took advantage of
the opportunity of the financial crisis that befell the banks
to offer alternatives to the services provided by these
banks?

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Fintech Users

CONSUMERS. FOR BANKS

BUSINESS SMALL
CLIENTS BUSINESSES

As for consumers, as with most technology, the

younger you are the more likely it will be that you are
aware of and can accurately describe what fintech
is. The fact is that consumer-oriented fintech is
mostly targeted toward millennials given the huge
size and rising earning (and inheritance) potential of
that much-talked-about segment.

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Sources.

1.https://www.investopedia.com/terms/f/
fintech.asp#toc-fintech-users
2.https://ar.wikipedia.org/wiki/%D8%AA
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3.https://hbrarabic.com/
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