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Yes, PayPal is a fintech or financial technology platform, it clearly fits the definition of any business that offers online or integrated financial services (such as banking, credit, insurance, or investments) primarily through the use of technology. In fact, it’s one of the biggest players in the fintech market.

Fintech has several advantages over traditional banking institutions that allows operators to be more innovative and to deliver services to their customers more quickly and cost-effectively. This has enabled fintech to shake up and disrupt the financial services industry.

A blockchain or distributed ledger is a decentralized database that exists in identical copies on devices all over the world, belonging to all the people who are part of that particular blockchain network.

As of May 2020, the top fintech companies in the world include the following:

Adyen: Based in the Netherlands, Adyen serves over 4,500 businesses, processing mobile, online, and in-store payments. Clients include Facebook, Uber, Netflix, Spotify, L’Oréal, Burberry, Symantec, and Microsoft….

Yes — one of the factors that first propelled financial technology or fintech into the public consciousness was the development and trading of cryptocurrencies, of which Bitcoin is probably the best known. Bitcoin was also the first widely recognized application of blockchain technology.
These days, the short answer is almost everyone with internet access. If you use a payment platform like PayPal or Google Wallet, that’s fintech. Crowdfunding companies like Kickstarter, Patreon, or GoFundMe are other everyday examples.

Fintech uses disruptive technology that streamlines existing services, makes new financial services possible, and enables companies to automate repetitive tasks. This technology requires developers and managers with specialist skills and is creating jobs in a number of areas.

For anyone looking for a career in fintech, a combination of technical and business skills is essential.

A general management skillset, including sales, relationship management, finance, marketing, analytics, and product management is appropriate for candidates who’ve set their sights on launching a fintech startup. This could include anything from developing a mobile app to setting up an online store.

Banks are using financial technology to make access to cash and credit easier for their customers. Financial institutions are using digital tools like chatbots to enhance the customer experience, mobile apps to give consumers real-time access into their finances, and machine learning algorithms to secure against fraud.

To familiarize yourself with the technology, it’s a good idea to actually use it. For example, if you have an interest in cryptocurrency, create an account on an exchange, and start investing or trading. 

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