Fintech is the new application processes, products or business models in financial services, industries composed of one or more complementary financial services and provides end to end process via internet, the use of smartphones for mobile banking, investing services and crypto currency are examples of technologies aiming to make financial services more accessible to general public. Fintech companies consist of both start ups and established financial institution and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.
Fintech is the technology and innovation that aims to compete with the traditional financial methods in the delivery of financial services. Fintech companies and Start-ups are adapting to the new Normal amidst COVID-19 pandemic most of them have the advantages of having built agile teams and systems, it's now a matter of their resilience and the relevance of their services.
Social distancing for example lends itself to mobile first of many, since people cannot go to bank to perform transactions alot of people go to their phones so we go to the new normal of using our which is Fintech.
Another outcome of Covid-19 maybe the acceleration of partnerships with financial institutions that offers benefits such as capital and infrastructure, but increasingly seek Innovative digital solutions, the Fintech are also better geared towards partnerships using Innovative tools and technology to do