FinTech (Financial Technology) is the new modern technology designed to compete with the traditional financial methods of delivering services.
With the increase of importance of technology due to the COVID pandemic, Fintech has evolved and became significantly more important to banks and people alike.
With this transition occurring it is important for everyone to understand what these changes mean and how it will continue to evolve in the future.
With the generations of people who grew up with technology getting older, businesses have had to adapt to please these generations.
People have become more and more comfortable managing their money and businesses online. They are eager to use new technology because it offers these businesses and people flexibility that they did not have before.
Some of the results of this increase in Fintech is the addition of digital mortgages and digital lenders. This technology was very important for banks because when COVID happened it was the only way to do business.
Now people prefer the business to be online because it …