Today, FinTech companies are trying to unpack the bundle of financial services offered by the banks, leaving the latter with only the least profitable ones. FinTech uses innovative data analysis techniques (artificial intelligence and machine learning) to process efficiently the information that individuals and companies put online, sometimes unknowingly (big data).
Using this data, algorithms calculate the creditworthiness of those applying for a loan and the result is available, on digital platforms not requiring a bank to act as intermediary, to the savers who directly disburse the financing.