Fintech I will loosely define fintech as technology-enabled financial innovation that results in material changes to the provision of financial services. As is often the case when technological innovation meets established business, fintech has attracted a great deal of attention, ranging from utopian claims to hostile skepticism.
Claims about fintech’s promise abound: it has the power and potential to reduce economic inequality, increase financial inclusion, and boost economic growth. 3/6  BIS central bankers' speeches  Through the introduction of new methodologies, greater information curation, and reduction in processing costs, fintech could potentially reduce financial volatility and vulnerabilities.