Fintech, an abbreviation for financial technology, has arisen as a disruptive influence fundamentally transforming conventional banking paradigms. Fintech businesses have used advanced technology like artificial intelligence, blockchain, and data analytics to address long-standing issues in the field of finance.
Fintech has revolutionised financial services by simplifying payment procedures and providing personalised wealth management tools. This has made financial services more accessible, efficient, and customer-centric. Fintech solutions in the banking industry have revolutionised conventional banking models by providing alternative methods for financial management, payment processing, credit accessibility, and investment opportunities.
Additionally, Fintech has transformed how financial transactions are carried out, enhancing their speed, efficiency, and accessibility to a broader range of people. This has been achieved via the introduction of mobile banking applications and blockchain technology.
As an educator at SEGi University, Fintech, the fusion of finance and technology, offers several benefits for students pursuing studies in Bachelor of Accounting and Finance (BAF). The inclusion of this subject in the school curriculum enables a smooth progression from abstract ideas to real-world implementations. By actively engaging with state-of-the-art financial tools and platforms, students acquire important practical knowledge and skills.
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