Exploring the Diverse Landscape of Fintech: An In-Depth Analysis of Fintech Types and Innovations

Document Type : Original Article

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Department of Economics, faculty of Management, Economics and Business Technology, Egyptian Russian University

Abstract

One of the main features of human nature is the desire to improve the quality of life. Human civilizations can be told apart by how creative and innovative they are, or at least by how well they can adapt to new ideas. Nowadays, the world is witnessing a daily evolution in communication technology, which has expanded to various economic sectors. The financial sector is one of the most affected sectors by these innovations. As a result, one of the most interesting global trends in both developed and developing countries is the use of new technologies in the financial industry. The current time is considered a critical era for all workers and users of the financial sector services due to the number of technologies they must adapt to, the changes in financial services, and the amount of money transferred daily. It is easier and cheaper to use advanced technology compared to the traditional method. Despite that, the government globally provides huge support for financial technology services to transform from traditional methods to technological ones. Therefore, this study defines what the catchword "Fintech" means. Moreover, it illustrates the various types of financial and technological services.

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ERU Research Journal
Volume 3, Issue 3
July 2024
Pages 1431-1444

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