Fintech has been responsible for inducing large-scale changes in the financial services industry. Experts have predicted that the market could reach a value of more than $180 billion by 2024. The search for a credible fintech glossary suggests that you must have identified how fintech could revolutionize financial services.
Internet accessibility and the development of financial service apps have been playing a crucial role in enhancing user experience with financial services. For example, you could access all the services of a bank with a few clicks on your smartphone. As of 2023, there are almost 30,000 fintech startups worldwide with innovative service offerings. Furthermore, interest in fintech funding has been growing substantially.
The value-based advantages of fintech have spurred interest in learning A to Z of fintech among many people worldwide. Fintech is an innovative concept that has everything to sustain the test of time and move toward the future of finance. However, beginners are likely to experience difficulties in understanding fintech without awareness regarding important terms in fintech. The following glossary of fintech terms and phrases could serve as a useful reference for beginners to understand fintech.
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Important Terms in the World of Fintech
Have you felt like an outsider when your friends and colleagues are discussing fintech? You must have come across fintech phrases such as blockchain technology, decentralized finance and many other terms in discussions on fintech. Let us take a look at some of the most important additions in fintech terminology you must learn right now.
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