In the recent digital era, the trend of financial transactions began to shift from conventional to digital with the innovation of fintech. What is fintech actually? The development of the world of start-up and digital markets in the past decade has brought major changes in various sectors, one of which is the economic sector. Various facilities continue to be stimulated by utilizing the encouragement of technological advances that are increasingly bright.
One of them is the presence of fintech with its leading innovations that make it easier for people to make transactions through digital transactions. You might still not understand what fintech is and what is meant by this digital transaction, that’s why this article is presented to you. What is Fintech?
Definition of Fintech
Fintech or Financial Technology is a hybrid of the economic sector with the help of technology. The National Digital Research Center (NDRC) explains that fintech is a term that refers to innovation in financial services. Whereas the definition of fintech according to the International Bank is innovation in the financial field which has converted the business model to become more moderate. The concept of fintech combines financial systems with technological developments, one of which makes financial transactions more practical, secure, and modern. Not only in the field of payment, but fintech has also reached all aspects of the business of financial transactions to the sale and purchase of shares.
Background of the emergence of Fintech
Just like other business fields, fintech was born from daily … Read More