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Financial technology, or fintech​, is a financial services sector that emerged in the 21st century.

Essentially, fintech is any technological innovation in the financial sector. This can include advances in financial education, retail banking, investment and crypto-currencies.

Examples of fintech include:

  • Stock trading apps and websites,
  • Peer-to-peer lending sites that open competition for loans, thereby reducing rates,
  • Robo-advisor services that provide online, algorithm-based portfolio management,
  • All-in-one online personal finance management, and
  • Budgeting tools.

Fintech has four categories of users:

  • Business-to-business for banks,
  • Business-to-business for banks’ clients,
  • Business-to-client for small businesses, and
  • Business-to-client for consumers.

The fintech industry is growing rapidly, and its growth is expected to continue. 

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