ADVERTISEMENT Fintechs are the result

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Nd communication technology. Editor Rock Content Mar , | min read a bill with the letter f representing a fintech Fintechs are companies that combine the provision of financial services with processes based entirely on technology . They arise from the union between the financial and technological areas ( financial + technology = fintech ) and are promoting a true revolution in the financial market. The mission of these companies is to innovate, optimize and improve services in the financial sector. You may be wondering: is it possible for financial services to be carried out without so much bureaucracy and waste of time? Fintechs

are showing that yes, it is possible. In addition to involving less bureaucracy , they Iran WhatsApp Number Data have much lower operating costs than traditional banks and manage, through technology, to impose more efficiency and agility in processes. How did fintechs emerge? ADVERTISEMENT Fintechs are the result of two events that intersected: the international financial crisis of , when the traditional North American investment bank Lehman Brothers went bankrupt, and the trend towards total automation, an expression of the th Industrial Revolution . Why the crisis? Because after the bankruptcy of the Lehman Brothers Bank and the financial aid that the





North American government had to provide it, the public sector of developed countries, to avoid new crises, created a series of regulations for large banks, mainly those considered " Too Big. " to Fail ." Consequently, many sectors of these banks became too entangled, such as the bank lending sector, where part of the fintechs are concentrated. Thus, startups , which are innovative business models, strongly supported by technology, low cost and much more flexible, emerged to fill these gaps — and many o