As technology continues to develop and we find more applications across all sectors, it is clear that digital technology is becoming increasingly important and influential to all forms of business. One such area that technology is helping to advance is the world of finance.
Multiple technology sectors have sprouted over the last couple of decades, helping to advance the practices of those in their relevant field.
At a rudimentary level, the general public uses services like online and mobile banking, contactless cards, eWallets, and some even dabble in cryptocurrency, but technology is pushing finance even further behind the scenes.
Fintech is taking over
Financial technology, or to use the portmanteau, ‘fintech’, is becoming a huge sector in the world of financial services. Great Britain can currently claim to be a world leader in the ever-developing realm of fintech, with the industry being worth £7 billion to the UK with roughly 60,000 employees and over half of the total investment in European fintech companies being funnelled through the nation last year....