Financial Technology

Financial technology, often known as Fintech, encompasses a variety of businesses that leverage technological innovations to improve and streamline financial services and operations. This rapidly growing industry includes sectors like mobile banking, insurance, cryptocurrency, and investment applications.

Example

• Scenario: An individual wants to invest in mutual funds.

• Traditional method: Visit a broker, fill forms, and wait for approvals.

• Fintech method: Use Groww or Zerodha app, select a fund, pay online, and start investing within minutes.

This shows how Fintech simplifies financial services, reduces friction, and improves accessibility.