Summary engineering financial technology

Financial Technology or FinTech is one of the most promising industries and it is driven by a wave of start-ups with innovative new business and revenue models, new products and services, which is changing finance for the better globally. These FinTech firms offer users a range of financial services that were once almost exclusively the business of banks. Historically, banks have been responsible for most innovations in the financial industry. The inception of credit card in the 1950s and ATMs in the 1970s completely changed the way one pays for goods and uses various other services. Jump forward to 2018, the significant growth and accessibility of internet and technology including smart phones, big data, social media, cloud computing, etc., has increased the demand from consumers to make it even easier and convenient to manage their finances.