What is FinTech Development? – DevTeam.Space [Video]

What is fintech development? In this article, I am going to explain what fintech is, provide examples of fintech services and technologies behind fintech software applications.

In this article

1. What is fintech?
2. Examples of fintech services
3. Technologies that power fintech
4. Frequently Asked Questions on fintech development

What is fintech?

The term “FinTech” is a short form of “financial technology”. It refers to digital technologies that are helping to introduce key innovations in the banking and financial services sector. FinTech innovations went a long way to improve financial inclusion. Several fintech innovations removed some of the constraints of the traditional financial services, furthermore, they offered new financial services.

Financial technology isn’t entirely new. The term “FinTech” has received high media attention in recent years, however, technology isn’t new in the financial services industry. Credit cards and ATMs were earlier examples of transforming the financial industry with technology. It’s just that the current generation of financial technology companies provides digital financial services …