Viewpoint: Fintech a Game-Changer for Growth in Asia
Financial technology (fintech), or the fusion of finance and technology, has emerged as a new model for financial innovation. Fintech covers a constellation of complementary technologies — including mobile networks, big data, cloud computing, distributed ledger technology, artificial intelligence (AI), and data analytics — that jointly shape a broad swathe of operations in the financial industry.
The past few years have witnessed the rapid growth of investment in fintech. It has already left its imprint on a wide array of financial services, including microfinance, blockchain, payments, personal finance, digital banking, insurance, wealth management, capital markets, money transfers, and mortgages.
Photo courtesy of Rob Tinworth.