The world of technology is increasingly interesting and advanced, so we see how Fintech companies appear, which are financial technology companies, which since they arrived have revolutionized the world of finance, arrived, will stay and improve every Another day, it is a world to know.

What does Fintech mean?

This term is a novelty, it is the result of the acronym between financial technologies, which in Spanish means financial technologies, that is, that encompasses the services of the businesses of the financial sector that make use of modern technologies, in order to create financial products that today they revolutionize the world in general, emphasizing the use of blockchain and crypto commerce.

Therefore, when defining Fintech, they would be like what brings together those companies in the financial sector that contribute with new ideas and economic and trade models, making use of new and modern information technologies. Among the mechanisms used by Fintech organizations to grow and evolve are the use and progress of those areas related to mobile applications, big data, personalized commerce and the way to understand and offer traditional financial services through new technologies such as blockchain, cryptocurrencies and the use of crypto assets. And this is done in order to make every day the economy and finances are more personalized, secure, fast and anonymous for the user and for society in general, making them independent of the traditional financial centers of the world.

Fintech Objectives

The main objective of Fintech companies is to make use of technology with the intention of offering the best solutions to financial services making them more accessible. In addition, it adds value to current financial services, lowering costs efficiently. Likewise, it allows access to financial services person to person with greater transparency in the offer. These are some objectives of Fintech companies.

Business areas of Fintech performance

Personal finance, payments and transactions, consulting and marketing for investments and financing alternatives between individuals and companies. Currently there are different types of Fintech companies, which include different financial branches, among them we have: Financing of individuals and companies; payments and collections through mobile devices; investment; personal finances; loans; factoring; foreign exchange; Blockchain / Bitcoin; disbursements; advice; financial infrastructure and remittances, among others.

What technologies do Fintech use?

We see that the development of the digital economy and technology-based companies (startup), has allowed a variety of business opportunities that adapt to the needs of users, likewise, for those who wish to embark on a new path to put to produce your money and manage it at the same time.

The Fintech opened a new landscape for those who wish to participate in real economy projects. It offers help to individuals and entities the opportunity to finance their projects, while achieving economic performance. These companies are mainly dedicated to facilitate and simplify the user’s banking and insurance services. To this end, they use technologies as the platform through which they operate; data analysis; artificial intelligence and the blockchain.

The platform with which they opérate

It is the main basis for the development of Fintech. The platform has evolved little by little in complex networks, which are not only dedicated to lenders, but also to currency transactions between individuals, without the participation of a traditional financial entity. The principle of platform economy through which users can buy a variety of products has revolutionized modern commerce. From eBay, through Amazon to Airbnb, products and goods were first sold through digital platforms.

Analysis of data

Thanks to the development of technology, it became possible to store an immense amount of personal data that indicated the buying behavior of potential customers. This technology of the Fintech, is the one that receives less attention. It turns out that it is important, since it can be used to forecast events, taking into account existing data, it is what is called a predictive analysis. It also helps to graphically display data sets to make them intuitively understandable. It also serves to assess credit risks or to find out the origin, income and preferences of customers, among other utilities.

Artificial intelligence

Artificial intelligence, AI, will be of great importance for Fintech in the immediate future, for example, in terms of customer service, the machines are already able to send the person indicated for the problem they present after a call to the customer . The introduction and development of chatbots already generates answers to simple questions, reducing the effort of the administrator. Machine learning will increase the quality of services in the coming years. The faster and smarter the artificial intelligence, the greater the potential performance.


Blockchain is the key technology for Fintech, and we already explain it extensively in the previous article entitled, what is blockchain technology? Its benefit lies in security and transparency, since the Blockchain is a book of all the transactions that are carried out at the public level. It is a difficult technology to manipulate, because a network of many computers worldwide must manage a complex computing power to be able to encrypt transactions that are written in blocks.

Technology for financing: Micro-patronage or crowdfunding

The micro patronage of capital or equity based crowdfunding allows investing in projects and startups that are believed to be able to experience great growth, through the purchase of shares of these companies. Crowdlending is a similar option for those who want to put their money into smaller businesses that require a loan. Crowdlending offers the possibility of investing in families or individuals that present projects that need financing. For example, buying a car, remodeling the house, this type of credit was only given by banks, currently, Fintech, facilitate the flow directly between investors and borrowers.

What do you think about this topic? Did you know any of these technologies?

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