Fintech, short for financial technology, is a booming industry that leverages innovations like AI, blockchain, and data science to enhance or automate financial services. From mobile banking and investment apps to insurance and payments, fintech companies are reshaping the way businesses and consumers interact with financial systems.
This rapidly growing sector has attracted substantial investments, with 41 VC-backed fintech unicorns collectively valued at $154.1 billion. Traditional banks are also embracing this technology, actively investing in or partnering with fintech startups to meet the needs of digitally-focused customers.
If you're curious about the cost to build a fintech app or want to learn more about the industry's capabilities, resources like i2ifacility.org provide insights into the potential of fintech applications.