Fintech, or Financial Technology, is a concept that combines new technologies with financial services. It is a field where improvements, automation and innovations on financial services are developed into applicable methods and offered as services.
Fintech originated with a focus on the back-end infrastructures of financial institutions. Today, it develops into a more customer-oriented approach. From electronic money and digital wallets to BNPL (Buy Now Pay Later) plans and branded cards, fintech has been offering convenient alternatives to traditional financial services.