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What is Fintech?
Changing the Financial Landscape as We Know It
Fintech, simply put, is the integration of technology into financial services. It covers a wide range of services, from mobile payment apps to cryptocurrency. This means that fintech covers everything from how you send money to your friends ( mobile payment apps) to how you invest your money (cryptocurrency).
In this blog post, we’re going to focus on 4 main types of fintech: mobile banking, mobile payments, robo-advisors, and blockchain. We’ll briefly touch on what each one is and how it’s changing the financial landscape as we know it. So without further ado, let’s get started!
1) Mobile Banking
Mobile banking allows people to access their bank account(s) and manage their finances using their smartphone or another mobile device. This is opposed to having to physically go into a bank branch or log onto a computer.
One of the advantages of mobile banking is that it’s much more convenient than traditional banking. For example, if you need to check your balance or transfer money, you can do so quickly and easily using your phone. This means that you can do your banking anywhere and at any time — which is great if you’re always on the go!
