Debt Term

Fintech is short for Financial Technology (technically it’s a portmanteau). It is a catch-all phrase that includes many technology based companies and products that aspire to disrupt conventional financial services: banks, insurance, Wall Street.

Business financing is likely to be changed dramatically because of Fintech in the next decade. Some of those big changes have already started.

Fintech Sectors

Exactly what sectors get included in Fintech varies depending on who you talk to. Here we use a broad definition but focus primarily on sectors relevant to young and small businesses. The broad industry includes:

  • Crowdfunding, including…
  • Peer to peer and marketplace lending (both business and consumer)
  • Payments processing and infrastructure
  • Merchant services
  • Mobile banking
  • Credit scoring and analytics
  • Money transfer
  • Digital wallets
  • Personal financial management
  • Digital mortgages
  • Digital insurance
  • Wealth management
  • Capital markets and trading
  • Real estate investing
  • Financial services infrastructure
  • Blockchain including cryptocurrencies
  • Financial regulatory compliance

Fintech is a global industry, and many industry analysts believe developing countries that have enormous “unbanked” populations may lead the way.

Don Gooding

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