Financial technology (FinTech) — technologies for managing business finances using special software, as well as built processes and business models.
Also, the name FinTech is applied to companies and startups that do not work with traditional financial instruments, but use new financial technologies.
Financial technology can be used for:
- personal finance management;
- lending without the participation of banks;
- money transfers;
- creation and operation of investment platforms;
- bank user authentication and protection against fraud;
- solving the problem of mutual settlements in B2B using smart contracts;
- a systematic approach to the collection and processing of personal data;
- adapting business processes to changes in legislation (PerTech);
- insurance (InsureTech);
- создания краудфандинговых площадок;
- blockchains and cryptocurrencies.