Technology in fintech

Blockchain is guaranteed to change the way we operate(opens in new tab). Since blockchain is a decentralized ledger with strong focus on cryptography, security, and privacy, it’s ideal for banking applications and fintech. Most banks are now using blockchain(opens in new tab) technology to create more efficient ways to record data. In 2020, the market share of blockchain in banking was 29.7 percent. Since blockchain allows you to update data in real-time, it’s a more cost-effective method to record transactions without intervention.  There also are so many blockchain companies that are working on cryptocurrencies and blockchain applications that seek to provide quick and transparent fintech services. Even though blockchain has some risks, it can change the way banks do business by allowing faster payments, easier audits, and thorough identification. Of course, to integrate blockchain into the systems, banks and fintech have to make changes to their existing infrastructure. But rest as

Market capitalization refers to the total dollar market value of a company's outstanding shares of stock. Commonly referred to as "market cap," it's calculated by multiplying the total number of a company's outstanding shares by the current market price of one share. For example, a company with 10 million shares selling for $100 each would have a market cap of $1 billion. Understanding Market Capitalization Understanding what a company is worth is an important task and often difficult to quickly and accurately ascertain. Market capitalization is a quick and easy method for estimating a company's value by extrapolating what the market thinks it is worth for publicly traded companies. A company's market cap is first established via an initial public offering (IPO). Before an IPO, the company that wishes to go public enlists an investment bank to employ valuation techniques to derive a company's value and to determine how many shares will be offered to

    Fintech now includes different sectors and industries such as education, retail banking, fundraising and nonprofit, and investment management to name a few. Fintech also includes the development and use of crypto-currencies such as  bitcoin . While that segment of fintech may see the most headlines, the big money still lies in the traditional global banking industry and its multi-trillion-dollar  market capitalization . Fintech now describes a variety of financial activities, such as money transfers, depositing a check with your smartphone, bypassing a bank branch to apply for credit, raising money for a business startup, or managing your investments, generally without the assistance of a person. 

  Fintech is a portmanteau of the terms “finance” and “technology” and refers to any business that uses technology to enhance or automate financial services and processes. The term encompasses a rapidly growing industry that serves the interests of both consumers and businesses in multiple ways. From mobile banking and insurance to cryptocurrency and investment apps, fintech has a seemingly endless array of applications.