Functions of fintech that make it different from other businesses

 Finance and technology are combined to form the term "Fintech.". Any software, computer program, or other technological innovation that allows individuals or organizations to carry out financial transactions online or gain access to their accounts is referred to as such.
 
 According to Siddharth Mehta, chief investment officer at Bay Capital, fintech has emerged over the past ten years as a tool for people to overcome financial obstacles and advance toward financial goals. As a result, consumers now rely on fintech for several tasks like banking, budgeting, investing, and lending in addition to its obvious everyday advantages.
 
 Fintech applications come in a variety of shapes and operate in various ways. Using an app or service that takes a step to supplement or enhance such data, financial account data (such as transactions and account balances) may be securely unlocked.
 
 For instance, according to Siddharth Mehta IL&FS, wealth and financial management software compiles financial account information from numerous accounts into a single, easily readable snapshot, giving customers quick access to all of their financial information. The same programs might advise users to take actions to improve their financial situation based on the data provided.
 
 Fintech applications, according to Bay Capital CIO Siddharth Mehta, are allegedly financed from pre-existing bank accounts and used to carry out transactions like stock or cryptocurrency trading. Users are able to quickly and affordably transfer funds from their bank accounts into a separate account where they can make a variety of investments using platforms like Coinbase and Robinhood, which are typical examples.

Read more here : https://www.business-standard.com/content/press-releases-ani/fintech-startups-are-the-new-unicorn-of-the-market-says-siddharth-mehta-123040400713_1.html

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