Fintech: Definition, figures and benefits

Neo-banks, online transactions, financial inclusion… These regularly used terms can seem abstract and difficult to grasp for many people. In reality, they’re all just facets of the same exciting and constantly evolving subject: “FinTech”.

At E-Pay Space, we believe in the importance of understanding FinTech to better navigate this rapidly transforming universe. So we’re happy to support and guide you through the key concepts of FinTech, so you can stay up to date and reap the benefits of financial technology.

FinTech, a word that has become an integral part of our vocabulary, is a combination of two terms: FINance and TECHnology. FinTech is the application of advanced technologies to improve and facilitate financial services. FinTechs offer a host of innovative options for payments, online lending, money management and much more.

In France, FinTech has experienced strong growth in recent years. In 2015, there were fewer than 100 FinTechs. This figure has increased tenfold by 2023, according to a survey conducted by “France FinTech”, an association focusing on current and emerging issues in the financial services industry. The survey also notes that 25% of the major players in the FinTech sector have an international presence, creating over 40,000 jobs*. Given the recent pandemic, this growth is impressive and significant.

FinTechs are disrupting the financial services industry, offering solutions that are faster, more efficient and more cost-effective than conventional methods. FinTechs are helping to make financial services more accessible and personalised, promoting financial inclusion for all.

At E-Pay Space, we’re proud to be part of this FinTech revolution, offering innovative services that enable businesses and individuals to achieve their financial goals in their markets. Our solutions offer a secure and convenient alternative to cash, cheques, vouchers and traditional payment cards.

Our FinTech expertise enables us to meet any financial challenge you may face. At E-Pay Space, we’re committed to providing you with quality financial services, tailored to your specific needs.

We hope this article has given you a clearer picture of FinTechs and their potential. Expand your knowledge in this sector and explore our services today.

Source : https://francefintech.org/france-fintech-publie-le-barometre-annuel-des-levees-de-fonds-la-fintech-francaise-maintient-le-cap/