Financial Technology (FinTech), describes a business that competes with traditional banking methods and their legacy platforms by providing complimentary financial services, while making use of modern customised software and leveraging current technology; delivering an end-to-end process to the client. FinTech seamlessly integrates with sophisticated clients who are looking to be financially relevant in an ever increasingly digitised world; whereas Banks still struggle to keep up with FinTech as a result of the lack of innovation speed due to cumbersome legacy platforms.
