Fintech y servicios financieros digitales

Abstract

Fintech is a new form of financial business similar to a bank where credits are requested, or various cash transactions are made to accommodate consumers’ habits; they are directly responsible for this new digital phenomenon for individuals, institutions, and companies. The continuous technological development has potentiated digital cash management in production and commercialization processes as a new economic approach, which, combined with the financial sector, provides alternatives to carry out transactions in less time, facilitating personal and commercial activities. The transition to digitalization has enabled the realization of new digital cash management jobs. This research aims to describe what Fintech consists of, its characteristics, and the activities it provides. For this research, information has been collected from articles published in the last five years by experts in the field of digital economic development. In Latin America, Fintech has the purpose of connecting the entire financial network to improve services such as consultation, accreditation, collection, and various cash transactional activities, payment of basic services and collections existing in the financial market through the internet, eliminating the tedious processes of traditional cash banking, saving time and money. In other words, it is a way to demonstrate that technology is at a higher level and creates a new alternative when applying for credit. Keywords: finance, technology, financial institutions, bank, currency.