**What is fintech. Explaining in simple terms**

Fintech (financial technologies, Fintech) is the provision of financial services and services using innovative technologies. We are talking about Big Data, artificial intelligence and machine learning, robotization, blockchain, cloud technologies, biometrics and others.

Simply put, it is software, applications, business models and any other innovation that makes the relationship with money easier, faster, more reliable.

Fintech is also an industry where companies use new solutions and technologies to compete with traditional financial institutions for customers.

Trends
As part of the Futureshop laboratory, experts named nine trends in the fintech area at once:

- non-contact;
- subscription services and products;
- instant payments;
- sharing economy (car sharing, co-living, co-working and others)
- methods of joint temporary ownership);
- voice interfaces and personal advisors;
- product microtargeting (personalization trend);
- ecosystem approach;
- investments instead of deposits and savings accounts;
- Request for financial education and development.
Read more here https://diceus.com/fintech-challenges-and-opportunities/

Number
According to The Matrix Fintech Index, the industry has grown by 97% in 2020. Fintech investments could reach $100 billion in 2021.