28/02/2024
The term Fintech is quite simple, it comes from the combination of two words: financial + technology. However, what a fintech really means goes far beyond financial technology. 🌐
These are startups or companies that develop fully digital financial products, in which the use of technology is the main differentiator in relation to traditional companies in the area. Some of these products offered are credit cards, digital accounts, debit cards, loans, insurance, among others. 💳
Most of them allow customers to control products entirely through their smartphones, without ever needing to go in an agency or broker.
In general, fintechs are known for offering innovative financial solutions, less bureaucratic, more intuitive to use – after all, they are usually available on the customer’s smartphone 📱 – and with very low, sometimes non-existent, costs for users. An example is credit cards with no annual fee or free digital accounts.
The number of companies creating innovative solutions for the financial sector is growing. This is a global trend of innovation that has come to transform people’s relationship with money. According to German analytics firm Statista, in November 2021 there were more than 26,000 such startups worldwide.
In short, fintechs arrive on the market bringing innovative financial products. In many cases, they were designed to be simpler and more beneficial for customers. 📈
Tell me in the comments if you already knew that!
