Some of them focus solely on payment services, while others provide fund intermediation services such as P2P lending without using their own balance sheets. Moreover, many FinTech companies are trying to realize “economies of scope” through combining financial services with other activities related to ecommerce, sharing-economy businesses and big data analytics in order to deliver new addedvalue.
"Globalizing” financial services Moreover, FinTech has the potential to “globalize” basic financial services through enhancing “financial inclusion.” Not only in advanced economies but also in developing and emerging economies where financial services are not yet widespread, cellphones and smartphones are now spreading rapidly, and FinTech has opened up the possibility of providing basic financial services through these new instruments.