The Evolution of Fintech: A Post-Covid Paradigm

Abstract

"FinTech" or "finance technology" describes as the technology advancement in the economic solutions. FinTech is sometimes referred as "new union" between the economic customer services industry and technological advancement . A long-standing relationship between financial markets and technology has evolved across three distinct periods. Transatlantic transmission lines, forerunners of today's FinTech 2.0, helped financial globalization between 1866 and 1987. Increased digitization of financial services businesses' activities took place during FinTech 2.0, which ran from 1987 to 2008. From 2008, a new decade of Fintech is been grown in the world including all the countries. This decade is explained by the individuals who served the economic products and services to the world, not the products themselves. Regulatory and market participants face challenges as FinTech's current iteration, led by startups, continues to evolve. As a part of this, it's important to consider both the positive and negative aspects of new technology.