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What is FinTech?

Financial technology (abbreviated as fintech) is a relatively new term that applies to any emerging technology that makes financial services more acceptable to the greater public. Think of the difference between walking into a bank to request your balance and the ability to receive that data via your smartphone and you’ll have a clear picture of what fintech is.

Core FinTech App Features

Some key fintech features are:

• Fintech apps deal with customer’s financial data and any data leaks can hurt your reputation. Thus, a fintech developer must implement blockchain, encryption, biometric and two-factor authentication, data obfuscation, and other security measures.
• Besides a high level of security, the application should be minimalistic and unburdened by unnecessary graphics elements.
• You can create a seamless payment processing experience and integrate your fintech app with say Google Pay so that the individuals can make purchases from the different corners of the world.
• Machine learning. Artificial Intelligence algorithms take data from different sources, analyze it, and make recommendations.
• Read More: Theitbase