What Makes FinTech Successful

FinTech, short for Financial technology, is an umbrella term for the application of new and innovative technological concepts on products and services in the financial industry. The past few years have seen catapulting advances made in the new sector whereby the future looks set to be characterized by technologies like blockchain and open banking. Since fintech services often tend to be faster, more cost efficient and straightforward, they are popular among startups and new companies that are looking for quick but effective solutions to their everyday operations. Contrary to the popular misconception…