Financial Technology (Fintech)

Fintech, in the summation of Anne Sradres on TheStreet, is the term used to refer to innovations in the financial and technology crossover space, and typically refers to companies or services that use technology to provide financial services to businesses or consumers.

As stated, the financial services industry has been turned up-side-down since the arrival of this technology which is currently all around us and is involved in transactions ranging from purchasing coffee at your local café to managing your personal finances.

Fintech describes financial technology, which is an industry that embraces any kind of technology used in the financial services. This applies to everything from mobile payment apps to cryptocurrency. In general, the term also covers companies that use the internet, mobile devices, software technology, or cloud services to perform or connect with financial services. Fintech products are designed to connect consumers’ finances with technology for ease of use. These innovations have dislocated traditional financial and banking services by using dozens of applications to change how consumers gain access to their finances.

Current practical examples of the use of fintech include management of funds, trading in stocks, paying for food, and managing insurance, usually from a smartphone. Other uses include crowdfunding platforms such as GoFundMe, which use apps to send or receive money from other platform users; mobile payments, which involve the exchange of money, and the making of payments online or on mobile devices.

eCornell now offers a certificate in FinTech. If you have ever wanted a deeper understanding of cryptocurrencies and trends in FinTech, pursing this certificate is a good course of action to take.

eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRDF Malaysia under its SBL Scheme.