Financial technology

Fintech meetup at Hilton Colombo in Sri Lanka

Fintech a portmanteau of "financial technology" refers to firms using new technology to compete with traditional financial methods in the delivery of financial services.[1][2][3] Artificial intelligence, Blockchain, Cloud computing, and big data are regarded as the "ABCD" (four key areas) of FinTech.[4] The use of smartphones for mobile banking, investing, borrowing services,[5] and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Financial technology companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. A subset of fintech companies that focus on the insurance industry are collectively known as insurtech or insuretech companies.[6][7]

  1. ^ Infinite Financial Intermediation, 50 Wake Forest Law Review 643 (2015)
  2. ^ Van Loo, Rory (February 1, 2018). "Making Innovation More Competitive: The Case of Fintech". UCLA Law Review. 65 (1): 232.
  3. ^ Chen, Chiu-Chin; Liao, Chia-Chun (September 15, 2021). "Research on the development of Fintech combined with AIoT". 2021 IEEE International Conference on Consumer Electronics-Taiwan (ICCE-TW). IEEE. pp. 1–2. doi:10.1109/icce-tw52618.2021.9602952. ISBN 978-1-6654-3328-0. Fintech is an industry that uses a seres of technological innovations such as cloud computing and big data to allow technology to serve finance and greatly improve financial efficiency.
  4. ^ Lai, T. L.; Liao, S.-W.; Wong, S. P. S.; Xu, H. (2020). "Statistical models and stochastic optimization in financial technology and investment science" (PDF). Annals of Mathematical Sciences and Applications. 5 (2): 317-345. doi:10.4310/AMSA.2020.v5.n2.a5. S2CID 240302839.
  5. ^ Sanicola, Lenny (February 13, 2017). "What is FinTech?". Huffington Post. Retrieved August 20, 2017.
  6. ^ "The Surprising Way Startups Are Disrupting the Life-Insurance Business". Wall Street Journal. June 10, 2019. Retrieved October 13, 2021.
  7. ^ "Insurtech startups are leveraging rapid growth to raise big money". TechCrunch. April 20, 2021. Retrieved October 13, 2021.

From Wikipedia, the free encyclopedia · View on Wikipedia

Developed by Nelliwinne