Fintech, a portmanteau of financial and technology, is made use of to characterize new technology that aims to enhance as well as to automate the conveyance and usage of financial services. Fintech is essentially used to aid business proprietors, companies, and consumers manage their financial procedures, operations, and their lives better and efficiently by making use of specific software and algorithms applied on computers as well as smartphones. In the 21st century when the term fintech surfaced, it was at first utilized in the back-end systems of financial institutions that were already established. Today, fintech ropes in various industries and …
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