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Fintech
Fintech (or financial technology) is the use of innovative technology within financial businesses and transactions. Ultimately, the goal of the Fintech industry is to make business finance simpler.
What Small and Midsize Businesses Need to Know About Fintech
Fintech is all about disrupting traditional banking. That means doing things differently through digital apps, new ways to transfer funds, and unique payment methods. Businesses that adopt fintech strategies and technologies are helping to future-proof their banking methods. Over half of SMBs already use some sort of fintech within their organization. Benefits include lower fees, more flexibility, and solutions that engage consumers.
Related terms
- Tokenization
- ROIT (Return on Information Technology)
- SAC (Subscriber Acquisition Cost)
- Energy Trading and Risk Management (ETRM)
- Chief Revenue Officer (CRO)
- Core Banking System
- Record to Report (R2R)
- Fintech
- Financial Management System (FMS)
- Business Capability Modeling
- Capital Allocation
- Compound Annual Growth Rate (CAGR)
- Net Present Value
- Hedge Fund
- Gateway
- Selling General and Administrative (SG&A) Expenses
- ROE (Return on Equity)
- Financial Planning and Analysis (FP&A)
- Dollar-Cost Averaging (DCA)
- Procure-to-pay Solution
