FinTech

FinTech stands for financial technologies and is a collective term for technologically advanced financial innovations. New financial instruments and services are created in the process. The term is often equated with companies that offer technologically advanced financial innovations. Whereas it used to be very cumbersome to carry out financial transactions, today all it takes is a few clicks on your smartphone. In the past, you had to go to a bank and borrow money to buy a car, for example. Today, providers have often already integrated payment systems that make it easy for customers to buy things today and pay for them later.

The field of artificial intelligence also has a strong impact on the banking of tomorrow. AIs are already being used today to assess credit scores or creditworthiness, for example. One use case is the automatic payment of bills based on the automatic data extraction of bills using optical character recognition.

The field of artificial intelligence also has a strong impact on the banking of tomorrow. AIs are already being used today to assess credit scores or creditworthiness, for example. One use case is the automatic payment of bills based on the automatic data extraction of bills using optical character recognition.