FinTech, short for financial technology, refers to the integration of technology into offerings by financial services companies to improve their use of financial services. This term encompasses a wide range of applications, including mobile banking, online payment systems, robo-advisors, blockchain technology, and peer-to-peer lending platforms. FinTech aims to streamline, innovate, and automate the delivery of financial services, enhancing efficiency, reducing costs, and improving customer experience. It encompasses both startups and established businesses that leverage technology to provide financial solutions, making services more accessible and user-friendly. Overall, FinTech represents a shift in how consumers and businesses manage, invest, and transact their money, driven by advancements in technology and changing consumer expectations.
Understanding the Changes in Instant Money Transfers A significant shift in the banking sector has occurred with the implementation of a new European regulation on January 9. Previously, platforms like…