The term “Fin-tech” (short for financial technology) shouldn’t sound strange to your ears anymore as it’s revolution is evidently experienced in across different markets today; it is shaping and expanding the business horizon globally. This technology improves and automates the experiences of financial services by utilizing software and algorithms and leverages on growing internet and smartphone access.

Flashback to some years ago when people walked into traditional banks to carry out their financial activities such as money transfer and deposits, loan application, investment management, etc. However, today, according to EY’s 2017 Fintech Adoption Index, one-third of consumers utilize at least two or more fintech services. Also, according to the report, based on consumers’ intention of future use, FinTech adoption could increase to an average of 52% globally.

Read more: https://medium.com/@Korapay/it-is-becoming-impossible-to-ignore-fintechs-663de2652b7c