...by Daniel Szego
quote
"Simplicity is the ultimate sophistication."
Leonardo da Vinci

Monday, November 6, 2017

Notes on the definition of Fintech


Sometimes the concept called Fintech is a little bit misleading. Certainly, it is pretty difficult to define the concept precisely, it can be however pretty well described:

- Fintech is PSD2, fancy banking Apps, innovative Big Data banking applications, or Blockchain and cryptocurrency solutions. The concept means innovative and disruptive solutions that are related to the financial technology and not necessarily to the banking technology. 

- Fintech is definitely not anything that has anything to do with banks and IT. It is certainly not related to the fine-tuning of some old fashioned legacy backbone technologies, even if they are still used transferring money.