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
Digital currencies including Virtual Asset Service Providers (VASPs)
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.