What is Fintechopedia?Fintechopedia helps the population understand fintech concepts,
improve investment skills and learn how to manage their money. Fintechopedia researches various Fintech companies and shares its information. How does it change the financial world and what does it
mean for you as an entrepreneur? We explain everything to you. |
What is FinTech?
FinTech is a combination of two words: financial and technology.
FinTech companies combine financial services and products with innovative technology.
In this way they can quickly provide online credit to many different entrepreneurs.
FinTech companies are modern additions or alternatives to traditional banks, asset managers and insurers.
FinTech companies combine financial services and products with innovative technology.
In this way they can quickly provide online credit to many different entrepreneurs.
FinTech companies are modern additions or alternatives to traditional banks, asset managers and insurers.
How Fintech works
FinTech companies use smart technology. For this they employ developers who create algorithms and systems.
FinTech companies that compete with traditional companies can,for example,
automatically check whether a company is healthy on the basis of a few data.
If all of this data has to be viewed manually, you will spend days with one customer.
This means that you have to wait a long time for your money.
That is why the developers create systems that automatically analyze the data and check the state of a company.
If a company is healthy, it can easily apply for credit. The lower the risk that a company cannot repay the credit,
the more credit it will receive and the less interest it will pay.
FinTech companies that compete with traditional companies can,for example,
automatically check whether a company is healthy on the basis of a few data.
If all of this data has to be viewed manually, you will spend days with one customer.
This means that you have to wait a long time for your money.
That is why the developers create systems that automatically analyze the data and check the state of a company.
If a company is healthy, it can easily apply for credit. The lower the risk that a company cannot repay the credit,
the more credit it will receive and the less interest it will pay.
How do these companies get the money they lend?
There are often investors behind FinTech companies.
They believe in the smart way of doing business and believe that this really adds value to society.
That is why they invest money in the companies, mostly start-ups.Paragraph.
They believe in the smart way of doing business and believe that this really adds value to society.
That is why they invest money in the companies, mostly start-ups.Paragraph.
Examples of FinTech companies
FinTech companies can be found all over the world. More and more FinTech companies are competing against traditional companies.
They try to make the world a better place through data and smart technology. We give a few examples of well-known FinTech companies.
They try to make the world a better place through data and smart technology. We give a few examples of well-known FinTech companies.