FINTECH

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Fintech is a word that comes from the union of two English terms: Finance and Technology ( financial technology, in English). It is about companies offering innovative financial products and services to their customers, by using theICTs(Information and communication technologies).

You are at startups use financial technology as a means to lower costs and simplify processes. This results in an efficient Internet service for the user, while generating lower fees than traditional systems.

What do Fintech companies do?

Fintech companies intermediate in the world of finance in many respects. As in the money transfers, in the loans, in the purchases and sales of securities or in the financial advice and investments, to name but a few areas where multiple Fintech companies are emerging.

We are sure that in the In the future, there will be fewer and fewer high street commercial bank branches. And that will be due to the development of Fintech companieswhich will offer the same services but online. The new generations are already getting used to and adapting to working in this way and it is only a matter of time before this new way of doing and acting is transferred to the world of traditional finance.

Types of Fintech companies?

Fintech companies are companies that, intermediaries in all areas of the world of finance and let's take a look at what types of Fintech companies exist and in what areas they operate:

1. FINANCING OF INDIVIDUALS AND COMPANIES

Lhe companies of Crowdlending, for example, are companies that They put small investors in contact with applicants for funding via their website and accompany them, The bank analyses, advises and assists them in their investment decisions and is responsible for collecting the fees from the lender and paying the investor the interest and principal on the loans in which he/she invests.

2. TRANSFER OF FUNDS

In the past, banks had a monopoly and therefore charged large fees for transferring money. Now a multitude of companies have sprung up that make transfers to very economical prices.

3. FINANCIAL AND INVESTMENT ADVICE

In earlier years, banks also controlled this advisory sector, but at following the emergence of the internet and the development of new communication technologies, have been appearingo Fintech companies The new players in the advisory sector are now many investors who turn to them before making their investments in order to be well advised and so that the advice they receive does not cost them a penny.

4. PAYMENTS AND COLLECTIONS VIA SMARTPHONES AND MOBILE DEVICES

There are already a lot of companies Fintech that allow you to use your mobile or tablet to pay for your purchasesThey are even ahead of traditional banking, they are leaders in this sector and the number of businesses and platforms that allow you to use this agile and innovative means of payment is constantly growing.

SPANISH FINTECH COMPANIES:

• Kantox
• Arboribus
• Deudae
• Savings.net
• Wallo
• Captio
• Fintonic
• iAhorro
• Launch us
• Askrobin
• Zank
• Captio
• Exxacta
• Ecrowd
• Grow.ly