Fintech is often a mix of two words namely “Finance” and “Technology”. Entirely, it is called Financial Technology. It’s related to technology innovations from the financial industry. Put differently; it describes the convergence of finance and technology – or ways that technologies are improving access to finance, from paying, currency, peer to see lending and even wealth management.

The season 2008 was the dawn of the major evolutionary alternation in the financial technology industry. This is attributable to the collapse of an unsustainable banking system that took too many risks rolling around in its quest for profits. Lehman Brothers were bankrupted, swiftly as well as emergency rescue intends to save major high-street names like HBOS, Merrill Lynch, AIG, Royal Bank of Scotland and Alliance & Leicester.

This crisis opened up the ability to do things differently. Previously financial technology was an in-house enterprise to the banks. The roll-out of charge cards from the 1950’s, ATM’s from the 1960’s and electronic trading from the 1970’s counseled me driven internally by major players from the banking industry.

The failure from the banking system gave rise to some number of economic technology upstarts. Modern businesses that desired to see change and even more importantly remove traditional barriers that the banking system had built. This increase in financial technology was quickly labelled as fintech.

Fintech covers a huge spectrum of innovation. Digital wallets, peer-to-peer lending, crowdfunding, micro-loans, insurance and infrastructure are just a few locations where folks are seeing room for innovation and disruption to conventional methods.

This rapid growth has established an excellent financial technology industry and several fintech company profile online. Due to plethora of businesses that belong to the umbrella of fintech it’s challenging to put a precise figure on the world valuation on this industry. Thankfully KPMG produce a quarterly report called ‘The Pulse of Fintech’. This provides a global research latest investments from the fintech industry. Their most recent report states that global investment in fintech companies reached an impressive $24.7 billion in 2016, spread across 1076 deals.

To find out more, check this out article on “what is fintech ?”
http://www.techbullion.com/what-is-fintech/