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Fintech, or financial technology, integrates technology into financial services to enhance efficiency, accessibility, and innovation, fundamentally changing how these services are delivered. It encompasses various services such as mobile banking, cryptocurrency, and digital payments, while leveraging automation, AI, and big data. The evolution of fintech is driven by favorable legislation and the sharing economy, making it a mainstream financial system globally.

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16 views7 pages

Presentation 13

Fintech, or financial technology, integrates technology into financial services to enhance efficiency, accessibility, and innovation, fundamentally changing how these services are delivered. It encompasses various services such as mobile banking, cryptocurrency, and digital payments, while leveraging automation, AI, and big data. The evolution of fintech is driven by favorable legislation and the sharing economy, making it a mainstream financial system globally.

Uploaded by

sairakhanbloch7
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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EVOLUTION OF FINTECH IN

THE FINANCIAL ERA


I. INTRODUCTION TO FINTECH

Definition: Fintech, short for financial technology, refers to the integration of


technology in financial services to enhance efficiency, accessibility, and innovation. It
empowers individuals and businesses to manage finances more effectively through
digital solutions.
• Core Concept: Fintech represents a fundamental shift in the way financial services are
designed and delivered, leveraging technology to improve convenience, security, and
accessibility for users.
• Role in Digital Transformation: Fintech is a driving force in the digital evolution of
financial services, fueled by emerging technologies, automation, and evolving
consumer expectations for seamless, tech-driven financial experiences.
Core Function: Fintech empowers individuals and businesses
to track and manage their financial needs.

Accessibility: It makes financial services more accessible to a


wider range of users.
II. HOW
FINTECH Efficiency: Fintech aims to improve the efficiency and
effectiveness of financial processes.
WORKS
Transparency: Fintech enhances transparency in tracking
investments.

Removal of Intermediaries: Fintech can reduce or eliminate


the need for traditional intermediaries in financial transaction
KEY CONCEPTS AND TERMS

• Financial Services: Fintech encompasses a broad range of services


including mobile banking, cryptocurrency, and digital payments.
• Mobile Banking: Accessing banking services through mobile
devices.
• Cryptocurrency: Digital or virtual currency secured by
cryptography.
• Digital Payments: Electronic methods of transferring money.
KEY CONCEPTS AND TERMS

• Tools and Techniques: Fintech uses various technological tools


and techniques to operate.
• Automation: The use of technology to automate processes.
• Artificial Intelligence (AI): AI is an important part of Fintech,
used for tasks like automation and decision-making.
• Big Data: Fintech leverages large amounts of data to improve
its services.
EVOLUTION OF FINTECH
Initial Stages: Fintech has evolved significantly in recent
years, changing how we use financial services.
Driving Forces: Fintech's rapid expansion is fueled by
favorable legislation, the sharing economy, and
information technology.
Global Trend: Fintech is becoming a mainstream
financial system in most countries.
THE END

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