The Fintech ecosystem is made up of a broad set of players that are all dedicated to innovating and improving competition in the financial industry, eventually benefiting customers and enhancing economic output. Fintech start-ups, technology developers, government, financial stakeholders, and conventional financial institutions are the five unique components of the Fintech ecosystem. Multiple technological revolutions have occurred in the recent decade, covering sectors such as social media, AI, big data and cloud computing, virtual reality, and, most famously, blockchain. Fintech may be classified into several sectors based on its uses and innovation, including payments and banking, investments and capital markets, loans, crowdfunding, insurance services, and loyalty schemes.
read more..