9/2/2021
A Look Into The Rise Of Fintech | fidomoney US | Finance
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A Look Into The Rise Of Fintech by fidomoney US | Sep 2, 2021 | Business, fidomoney US, Finance
The rise of fintech in recent years has truly been something spectacular to behold. The EY 2019 fintech report showed that worldwide adoption of fintech jumped from 16% in 2015 to 64% in 2019. What’s equally remarkable is how the public at large has joined the revolution. A survey of 27,000 consumers showed that 96% were aware of what fintech is and that about 75% of them are already using some form of fintech. Granted, many people probably don’t know they’re using fintech, per se. The term is broad. It stands for “financial technology,” and that can include even technology that originated decades ago, such as an ATM machine or a simple online bank account. However, leading-edge fintech means all kinds of payment apps, trading apps, cryptocurrencies, online-platform financial instruments, government-developed tax collection systems – and don’t forget crowdfunding! All said, there are key factors driving the growth of fintech today. The first is that fintech is a force for equalization and the democratizing of finance. For example, a poor woman in Mexico who can get her hands on a smartphone can leverage a free app to start a crowdfunding campaign to raise money for a new business. https://fidomoneyus.com/a-look-into-the-rise-of-fintech/
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