In the main, fintech is utilised to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilising specialised software and algorithms that are used on computers and, increasingly, smartphones.
Overtime Fintech has shifted to more consumer-oriented services and therefore a more consumer-oriented description. Fintech now includes different sectors and industries such as education, retail banking, fundraising and not for profit, and investment management to name a few.
Fintech also includes the development and use of crypto-currencies such as bitcoin. While that segment of fintech may see the most headlines, the big money still lies in the traditional global banking industry and its multi-trillion-dollar market capitalization.
