If you had ever pay for something with your phone, tranfered money using an app, or checked your banked statement online.. Then you are already part of a multi-billion dollar industry that's changing everything from how we make purchases to how to get loans, it's called Fintech. Fintech is a portmanteau of the terms “finance” and “technology” and refers to any business that uses technology to enhance or automate financial services and processes. The term is a broad and rapidly growing industry serving both consumers and businesses. From mobile banking and insurance to cryptocurrency and investment apps, fintech has broad applications. The industry is huge. According to insights , there are "41 VC-backed fintech unicorns worth a combined $154.1B." One driving factor is that many traditional banks are supporters and adopters of the technology, actively investing in, acquiring or partnering with fintech startups because it is easier to give digitally-minded customers what they want, while also moving the industry forward and staying relevant.
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