FinTech, or financial technology, refers to the use of technology to improve and automate financial services. From mobile banking apps to cryptocurrency, FinTech solutions are making financial services more accessible, efficient, and secure. The rise of peer-to-peer payment systems like Venmo and PayPal has made transferring money easier, while blockchain technology is enabling decentralized financial services without the need for traditional banks.
FinTech has also led to the rise of robo-advisors, which use algorithms to provide investment advice and portfolio management, and digital wallets, which allow users to store and transfer money through their smartphones. As FinTech continues to evolve, it promises to reshape the financial landscape, making banking and investing more inclusive and transparent.