Fintech

What is Fintech?

Financial technology (Fintech) encompasses a broad range of technologies used to deliver financial products and services. Fintech is used to streamline, digitalise, augment or disrupt process, customer experience and traditional business models.

Fintech can include software platforms, algorithms and applications, increasingly powered by artificial intelligence (AI) to change the way that financial institutions deliver their services.

New opportunities for innovation, competition and collaboration have led to the reduction in process friction, efficiency gains, improved customer service and the democratisation of financial services where some traditional financial services providers are disintermediated.

The Innovation Hub is interested in meeting any organisation developing or implementing Fintech products.

Common use cases

  • Online banking / Open banking
  • Mobile payments
  • Digital currencies including Virtual Asset Service Providers (VASPs)
  • Challenger banks
  • Robo-advisory services
  • Peer-to-peer lending services

Useful links to topic

These resources, amongst others, can provide guidance and support for businesses and individuals looking to leverage Fintech solutions and navigate the rapidly evolving Fintech landscape.

International Finance Corporation (IFC)

The IFC provides guidance and tools for financial institutions, regulators, and policymakers to promote the development of Fintech ecosystems.

Banking on FinTech in Emerging Markets (ifc.org)

Fintech Sandbox

The FinTech Sandbox is a non-profit organisation that provides Fintech start-ups with free access to data and resources to help them develop and test their products and services.

Fintech Sandbox

Innovate Finance

The Innovate Finance toolkit provides resources and guidance for Fintech start-ups and investors, including a regulatory roadmap, a guide to Fintech jargon, and best practices for cybersecurity.

H1 2023 FinTech Investment Landscape - Innovate Finance – The Voice of Global FinTech