Fintech is often a mix of two words namely “Finance” and “Technology”. Entirely, it is called Financial Technology. It is often caused by technology innovations within the financial industry. Put differently; it describes the convergence of finance and technology – or ways in which technologies are improving use of finance, from making payments, currency, peer to look lending and also wealth management.

The entire year 2008 was the dawn of your major evolutionary difference in the financial technology industry. This was a result of the collapse associated with an unsustainable banking system that took too many risks rolling around in its quest for profits. Lehman Brothers were bankrupted, swiftly then emergency rescue promises to save major high street names such as HBOS, Merrill Lynch, AIG, Royal Bank of Scotland and Alliance & Leicester.

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

The failure within the banking system gave rise into a variety of monetary technology upstarts. Modern businesses that planned to see change and above all remove traditional barriers the banking system had built. This rise in financial technology was quickly labelled as fintech.

Fintech covers a vast spectrum of innovation. Digital wallets, peer-to-peer lending, crowdfunding, micro-loans, insurance and infrastructure are just a few locations individuals are seeing room for innovation and disruption to fliers and other modes.

This rapid growth has established a booming financial technology industry and many fintech news 2017 online. Due to plethora of businesses that come under the umbrella of fintech it can be difficult to put an exact you’ll need the global price of this industry. Thankfully KPMG make a modern australia called ‘The Pulse of Fintech’. This allows an international investigation latest investments within the fintech industry. Their newest report claims that global acquisition of fintech companies reached an astonishing $24.7 billion in 2016, spread across 1076 deals.

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