What is a FinTech Company?

What is FinTech Company?
To understand What is FinTech Company? Here I will highlight all relevant sections of technology able financial services. Many business contenders want to start a FinTech company, but don’t have adequate knowledge about its procedure. Needless, to worry, this article will provide a wide-ranging guide to establish a successful FinTech company.
FinTech Company
Advanced technology has modernized the procedures of almost every sector, ranging from agriculture tools to the financial industry. An outstanding innovation that occurs in recent years is Financial Technology or FinTech. It is a strong technique that restore the lending & borrowing activities. FinTech aims to overthrow the conventional modes of finances and enable customer-friendly experiences. It has not only transformed the financial sector but also formed a entrance for startups to channelize their talent. Many business contenders want to start a FinTech company, but don’t have enough knowledge about its procedure and process. This article will provide a wide-ranging guide to launch a successful FinTech company. 
An Explanation of FinTech
Financial technology often shortened as FinTech refers to technology-enabled financial solutions. It is the perfect merger of financial services with information technology. However, the connection between finance and technology might seem to be a new one, however, they share a firm link over centuries. In literal terms, both finance & technology are non-detachable. They interweave from the beginning of the modern era and determinedly play a vital role to fortify the economy.
A Glimpse of Financial Technology History
FinTech was considered as a essential category of technologies that were employed in the backend systems of banks and other financial institutes. However, as time passed, the horizon of FinTech also expanded. Currently, it renders an array of services like automating insurance, banking, trading and risk management rather than just supporting financial institutes. FinTech has reignited the battle amidst finance and banking. Moreover, it also highlights the fact that FinTech and banks are two separate unites but co-dependent on each other.
Evolution of FinTech since its origin
After the essential impact of demonetization, FinTech companies grew at a fast pace. They act as a savior for the people who were running out of cash. Although FinTech may have come into the attention in recent years. FinTech belong to the financial region from the start when credit cards took over the industry, and people prefer doing cashless transactions. FinTech left its mark everywhere like in the functioning of ATMs, personal finance apps or building electronic trading bases and so on.
Scope of FinTech Industry and its Services 
FinTech companies have broadened their domain at micro as well as macro levels. Currently, such companies offer multiple financial solutions, such as online accounting software and adapting particular digital platforms. There are various services that a person can avail from a FinTech company:
Retail Investment Financial Services
FinTech companies’ aims to serve the different personal and professional needs of a person. Hereafter, it provides customized financial services to individuals or companies. FinTech ensures the ideal use of finances and thereby promotes best management of funds as per the specific requirement. Some of the reputed companies beginning retail investment business are such as and BankBazaar and PolicyBazaar. 
E-commerce Payment Options 
FinTech Industry has produced several online payment options which simplify the process of cash flow. With the accessibility of online platforms to transfer and receive payments over the mobile and web, FinTech has wow every other invention. It facilitates a direct transfer of money from the payer’s bank account to the payee. Most popular payment systems in India are Mobikwik, Paytm, FreeCharge, easypaisa, Jazzcash, etc.
P2P (Peer-to-Peer) Lending Services
This financial lending platform has already been so popular currently. It is an online portal that directly connects suitable lenders with borrowers, thus, eliminates the role of any intermediary. The P2P lending platforms arrange Financial Technology to provide a faster and suitable way to access the required funds.
Crowdfunding Critical Solutions
Deficiency of funds is predictable whether it’s a large-scale company or a new startup. Hence, FinTech has also sheltered such issues and given rise to crowdfunding service providers. It enables Entrepreneurs to procure funds for their new business projects easily. These internet-mediated platforms render an option to raise funds from a large number of people. FinTech Companies are gaining worldwide popularity because they gratify the modern-day needs of the predictable world.