What is fintech?

Fintech, short for financial technology, refers to the use of technology that aims to improve and automate financial services. It encompasses a wide range of innovations and applications that use new technologies to enhance traditional financial activities, such as banking, lending, investing, payments, and insurance. Fintech companies leverage technologies like mobile apps, artificial intelligence, blockchain, and data analytics to provide more efficient, convenient, and accessible financial services. These advancements have led to the emergence of new business models, products, and services that are changing the way individuals and businesses manage their finances.