Entrepreneurs are also finding applications well beyond finance, and these new technologies could transform other fields, such as humanitarian aid. 1 Fintech, which is the term people use to refer to innovation in financial services, has created a lot of excitement, but also quite a lot of hype, depending on your perspective.
Google searches for “fintech” have increased by more than 30 times in the past six years. Fintech has also attracted real money: over the same period, around 100 fintech start-ups in Canada have raised more than $ billion in funding. 2 At a global level, almost $ billion was poured into fintech last year alone.