Looking at the current state of the global economy, we find the rise of "connected businesses," which tie together information and services almost instantly over a wide horizon, against the backdrop of advances in digital communications technologies and epitomized with terms like "the fourth industrial revolution" and the "Internet of Things (IoT)."
"Sharing economy" is one example of such development that is gaining traction everywhere, and broadly speaking, FinTech can be understood in the same context. 4  A business model where banks develop and sell insurance products. It became popular in Europe (France, Italy, and Spain in particular) from the 1990s onward, involving mainly life insurance products.