What are 4 categories of fintech?
What are 4 categories of fintech?
How is the FinTech universe defined?
Digital lending
Firstly, let’s jump into digital lending. This includes everything from small loans to Better.com who has jumped out as a major mortgage lender. This will also include Rocket mortgage. Digital lending is easy for FinTech. It represents lots of data and historical data for models to crunch and spit out predictions allowing for seamless payments. Of course there is the industry big Credit Karma that offers a full suite of FinTech services on their platform. You can compare rates, apply for a loan. Many people love Credit Karma. A Swedish Fintech, Klarna made big waves all over the world with huge seismic growth. They also offer a large suite of options.
Payments
This has become a crowded space with the emergence of so many players from Ebay to Revolut to Payoneer to PayPal. Lot of offerings to help you transfer your money around the globe.
Blockchain
There are some very exciting happenings in this space. Look at Arbol where they are using blockchain to offer cheaper insurance based on smart weather predictions. Blockchain payments seem to be a big category emerging. But, still limited options here. Beyond Crypto the obvious player and user of blockchain.
Digital wealth management
Welcome to the world of Robo Advisors! From Betterment, Wealthfront, Wealthsimple to Rebellion Research and ElleVest. There are a lot of players here. Then you jump to just brokerage accounts and again its Etrade.com, Interactive Brokers, Schwab.com and many more.
