A Short Guide to Understanding the Exciting Realm of Fintech

Fintech is skyrocketing in popularity, posing the first serious challenge to legacy financial institutions. What is it & how does it work? Find out here.

What is Fintech & How Does it Work?

People used to stand on the corner of a city intersection and see their options for banking. On one side of the street, there was this national bank; on the other side, there was that regional bank. How your money was handled, your mortgage rate was determined, your investments were managed – everything was contingent on which side of the street you chose.

Thankfully, that’s changing. 

Fintech is skyrocketing in popularity, posing the first serious challenge to legacy financial institutions. In this article, let’s review the basics of fintech. What is it, and how does it work? If you’re curious about the current financial landscape, consider this a beginner’s resource.

What Is Fintech?

Fintech is a portmanteau of “financial technology.” Broadly, it refers to technologies that improve financial services – either by making them faster or more accessible, automating certain processes, or delivering services in a more user-friendly way.

Often, however, when you hear someone refer to “fintech,” they’re talking collectively about the companies and platforms that

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