Credit and Lending in FinTech

 

FinTech Lending

The term FinTech refers to cutting-edge technology that enables financial institutions to offer services more robustly and quickly than traditional banking is capable of.

Furthermore, Fintech financing gives customers more control over their financial flows by utilising these cutting-edge technology. Potential borrowers can now apply for financing options from almost any location in the world, encouraging an independent and initiative-taking approach to money management.

Procedure

• An approval process for determining the consumer's creditworthiness and loan amount
• A system for paying loan sums and receiving repayments
• A collections arrangement for recouping overdue payments 

FinTech Lending Companies

• Alipay
• Amazon
• Brex
• Fundbox
• PayPal

Current Trends

• Fast, Omnichannel Payments
• New Payment Innovations
• Investment in Technology