ISSN: 2225-8329
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Fintech is a business and banking company that translates to financial technology. It is the technology used and applied in the financial services sector including its involvement in mobile payments, money transfer, loans, fundraising and asset and property management.
Fintech investment has grown exponentially recently in the world and is likely to continue to increase, given that Fintech is not only related to the financial services sector, but all companies that deal with the financial services industry and Fintech startups are usually smart and capable of causing disruption. . The big impacts that organizations can have. Conventional finance can innovate very quickly.
Fintech is described as those products and services that rely on technology to improve the quality of traditional financial services. They are quick and easy. In most cases, these services and products are developed by startup companies, which seek to improve retail and corporate banking in cooperation or competition with existing financial service providers.
This paper seeks to shed light on the concept and importance of financial technology and how banks and financial technology companies benefit from the existing cooperation between them for the benefit of both parties.
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In-Text Citation: (AlMomani & Alomari, 2021)
To Cite this Article: AlMomani, A. A., & Alomari, K. F. (2021). Financial Technology (FinTech) and its Role in Supporting the Financial and Banking Services Sector. International Journal of Academic Research in Business and Social Sciences, 11(8), 1793–1802.
Copyright: © 2021 The Author(s)
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