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"Fintech", a clipped compound of "financial technology", refers to the application of innovative technologies to products and services in the financial industry.This broad term encompasses a wide array of technological advancements in financial services, including mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as ...
Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. [3] It has also been defined as the application of technical methods, especially from mathematical finance and computational finance, in the practice of finance.
Financial technology (also called FinTech) is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in the past few years.
Change in access to a financial account or services between 2005 and 2014 by country [2]. The term "financial services" became more prevalent in the United States partly as a result of the Gramm–Leach–Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.
The concept was first explored in 2003 as part of the open innovation movement that was promoted by Henry Chesbrough. [4] [5] The advent of internet banking and development of online technology in the early 2000s led to interest in access to the data, which was first seen in account aggregation attempts by technology companies.
Fintech in Australia is the evolving intersection of financial services and advanced technology in the Australian market. It involves innovations in banking, investment, insurance, and personal finance, facilitated by technologies such as blockchain and artificial intelligence. [1]
Added on to the bank as a service is a group of decomposed banking services consisting of an ecosystem of fintech startups and service providers. With this technology, based on the BaaS-platform, it is possible to create fintech banks, which could improve banking processes and provide increased convenience for banking clients.
Arun Jain (born 30 December 1959) is a Chennai-based Indian industrialist, investor, and philanthropist. [1] He is the chairman and managing director of Intellect Design Arena Limited, an IT software products company in the banking, financial services, and insurance space, which is listed on the National Stock Exchange as Intellect.