What is FinTech?
FinTech is “Financial Technology,” which means applying technological advances to the financial sector. FinTech’s applications are actually the indispensable services in our daily lives, such as online and mobile payment, transactions, crowdfunding, financial management, bitcoin, and so on.
So, what does FinTech offer to business? New technologies like artificial intelligence, machine learning, customer data analytics or Big Data gradually take over the guessing part in customer behaviors and financial decisions. These applications collect customers’ information, analyze their habits, and predict their future purchase decisions.
For businesses in fast-developing Southeast countries like Vietnam, FinTech is the key to better customer insights, better services, and ultimately, better branding and higher sales.