What is Fintech primarily concerned with?

Fintech, short for financial technology, primarily focuses on the development and implementation of software and technologies that enhance, streamline, and innovate financial services. This sector encompasses a wide range of applications, including mobile banking, online lending, payment processing, investment platforms, and blockchain technology. The goal of fintech is to leverage technology to improve and automate the delivery and use of financial services, making them more accessible, efficient, and affordable for consumers and businesses alike.

In this context, software and technologies for financial services are at the heart of fintech, enabling real-time transactions, better data management, and improved customer experiences. Such advancements are transforming traditional financial institutions and creating new market entrants that can offer alternative financial solutions. This emphasis on technology and innovation distinguishes fintech from other areas such as traditional banking investments or theoretical economic studies.