What are FinTech companies?
Posted: Sat Feb 01, 2025 8:36 am
The financial sector has a new companion that is making a strong entrance: the FinTech phenomenon .
This new term comes from the union of Finance and Technology - Insurtech also sounds strongly , the result of joining the words Insurance and Technology - and defines all those companies that offer financial services based on technology .
Characterized by being startups with a novel vision of consumer needs, these companies grow in step with the digital revolution and the arrival of new technologies such as Big Data or, as is already being heard, Blockchain .
company office
With growth at a dizzying pace - two per week - the Spanish Fintech and Insurtech Association is already predicting that 2018 will start with more than 400 companies of this type . Quite a success if we take into account that a year ago there were barely a hundred.
Another example that we can use to measure the cyprus number data relevance it is achieving is the report on global FinTech investment trends that KPMG produces quarterly , and whose latest analysis estimates global investment in these companies at 8.2 billion dollars.
But how can FinTech help entrepreneurs?
Basically, these are organized around three large groups:
Transactions : This is perhaps one of its most widespread uses. Fast online payments or transfers, international and from any device. Examples include platforms such as PayPal or the innovative Bizum .
You may be interested in: The best courses and events for entrepreneurs in January 2018
Financing: Whether you are an investor or need one, there are multiple digital platforms to put both parties in contact. Two trends predominate in this category: Crowdlending , companies that accompany small investors in their search for new projects, and Equity Crowdfunding , an alternative financing in which the investor obtains shares in the company's capital.
Advice and consultancy: With a deep knowledge of the sector and digital tools, there is an increasing number of FinTechs specialising in stock market products with extensive experience in the sector. In addition, there are some such as Fintonic that help manage personal finances and even make an assessment - FinScore - of how banks perceive us in order to obtain the best conditions.
This new term comes from the union of Finance and Technology - Insurtech also sounds strongly , the result of joining the words Insurance and Technology - and defines all those companies that offer financial services based on technology .
Characterized by being startups with a novel vision of consumer needs, these companies grow in step with the digital revolution and the arrival of new technologies such as Big Data or, as is already being heard, Blockchain .
company office
With growth at a dizzying pace - two per week - the Spanish Fintech and Insurtech Association is already predicting that 2018 will start with more than 400 companies of this type . Quite a success if we take into account that a year ago there were barely a hundred.
Another example that we can use to measure the cyprus number data relevance it is achieving is the report on global FinTech investment trends that KPMG produces quarterly , and whose latest analysis estimates global investment in these companies at 8.2 billion dollars.
But how can FinTech help entrepreneurs?
Basically, these are organized around three large groups:
Transactions : This is perhaps one of its most widespread uses. Fast online payments or transfers, international and from any device. Examples include platforms such as PayPal or the innovative Bizum .
You may be interested in: The best courses and events for entrepreneurs in January 2018
Financing: Whether you are an investor or need one, there are multiple digital platforms to put both parties in contact. Two trends predominate in this category: Crowdlending , companies that accompany small investors in their search for new projects, and Equity Crowdfunding , an alternative financing in which the investor obtains shares in the company's capital.
Advice and consultancy: With a deep knowledge of the sector and digital tools, there is an increasing number of FinTechs specialising in stock market products with extensive experience in the sector. In addition, there are some such as Fintonic that help manage personal finances and even make an assessment - FinScore - of how banks perceive us in order to obtain the best conditions.