Fintech: Foundation and Applications

Financial technology (better known as Fintech) is used to describe new components of technology that seek to improve and automate the delivery and use of financial services. ​​​At its core, fintech is utilized to help companies, business owners,and consumers better manage their financial operations, processes and lives. Specialized software and algorithms are utilized usingcomputers and smartphones. Fintech, the word, is a combination of finance and technology. In the early years of 21st century, the term was initially applied to the technology employed at the back-end systems of established financial institutions. Since then, however, there has been a shift to more consumer-oriented services and therefore a more consumer- oriented definition.In short, Fintech refers to the integration of technology into offerings by financial services companies in order to improve their use and delivery to consumers. It primarily works by unbundling offerings by such firms and creating new markets for them.Startups disrupt incumbents in the finance industry by expanding financial inclusion and using technology to cut down on operational costs. Fintech funding is on the rise but regulatory problems exist. Fintech now encompasses all sectors and industries. It is prominently used in education, banking, nonprofit organisations, fundraising, and investment management, to name a few. Examples of fintech applications include roboadvisors, payments apps, peer-to-peer (P2P) lending apps, investment apps, and crypto apps, among others.It is to stay and be apart of our lives in future. Hence, it is very essential that we get an insight into the foundations and applications of fintech. Course Learning Objectives:1: Understand the fundamentals of Fintech and its evolution.2: Describe Disruptive Technology Trends in Finance.3: Assess Fintech Innovations in Payments and Lending.4: Examine regtech and other components of Fintech5: Appraise Digital Banking Architectures and Branchless Banking Models6: Assess the Role of Digital Banking and Sustainable Finance Initiatives