Fintech is a combination of the terms "finance", "technology", and refers any business that uses technology in order to improve or automate financial services. This term refers to a rapidly expanding industry that serves both the interests of consumers and businesses in many ways. Fintech resources like i2ifacility.org offer a wide range of services, including mobile banking and investment apps and even insurance.
The industry is massive and will continue to grow for many years. CB Insights estimates that there are " 41 VC backed fintech unicorns" with a total value of $154.1B. One reason is that many traditional banks are supportive and adopter the technology. They actively invest in, acquire, or partner with fintech startups to provide digitally-minded customers with \the products and services they need.
Fintech companies incorporate technologies such as AI, blockchain, and data science into traditional financial services to make them safer and more efficient. Fintech is one the fastest growing tech sectors. Companies are innovating in nearly every aspect of finance, from credit scoring to stock trading and payments to loans and loans.
