I’m getting ads telling me to invest in Fintec or miss the boat.

What is it?

Tech startup with new business model to attach fins to automobiles?

Robotic fish?

Or, new technology developed to enhance banking functions of various types. The first big success, I believe, was PayPal.

Thanks!

Would cryptocurrency be considered Fintech? Quicken Loans? SoFi?

Is Fintech why Wells Fargo eliminated lines of credit?

Cryptocurrency, yes.
Quicken Loans, probably no.
SoFi, I don't know what it is.

Other examples I consider (consumer facing) FinTech:

Robinhood (the trading platform + mobile app)
Chime (we talked about this recently)
Venmo
Zelle
ApplePay, SamsungPay, etc.

I don’t know that finTech is a scientifically defined term. SOFI is sort of the quintessential fintech company, purely a technology platform. Quicken loan is really just an old long time mortgage banker. Although it is somewhat related I would consider the whole cryptocurrency world an entirely separate Market.

Thanks!

How do you expect Fintec to affect traditional banks?

Is Insurtech the same thing?

From WaPo. May be paywalled.

Cash transfer companies

I used to use PayPal but they became evil, including attaching themselves to my bank account without permission. Switched to Venmo and when PayPal bought them they became suspect as well.

Now I use Zelle, and I like the fact I access it through my bank’s website. OTOH my bank still hasn’t credited me for when they cleared a forged and voided check so there is that.

Fintech surely can’t be any worse.

Right?