Fintech currently refers to a variety of financial operations that may be performed without the aid of a human, such as money transfers, depositing a check with your smartphone, bypassing a bank office to apply for credit, seeking funds for a company beginning, or monitoring your investments. One-third of customers use at least two or more fintech services, according to EY's 2017 Fintech Adoption Index, and these consumers are becoming more conscious of fintech as a part of their everyday life.
Fintech Industry is the use of technology to financial services products in order to improve their usability and delivery to customers. It operates largely by unbundling such organisations' offerings and generating new markets for them. Startups in the banking business disrupt incumbents by increasing financial inclusion and reducing operating costs through technology. Fintech financing is on the increase, but there are a slew of regulatory issues to contend with.
