When you use PayPal, Apple Pay, Google Wallet or simply your credit card to make an online purchase, you the consumer, the ecommerce retailer and the banks behind the money exchange are using FinTech.

When Charles Schwab, TD Ameritrade or Fidelity Investments purchase stocks and the banks settle the securities transactions, that's FinTech.

And when you go online to find the best mortgage rates for that dream home or to refinance the one you're in, that's FinTech.

FinTech defined

Broadly speaking, FinTech (financial technology) is anywhere technology is applied in financial services or used to help companies manage the financial aspects of their business, including new software and applications, processes and business models.

To read this article in full or to leave a comment, please click here