What is fintech?

Fintech can be defined as financial services combined with new technological innovations. Fintech activities are found in numerous parts of the financial system and include, for example, payment mediation and lending. Operations linked to cryptoassets are also a type of fintech activity. The fintech sector has grown rapidly in the past few years, but is still of a limited size in many countries. In Sweden, for example, the operations of fintech firms have gone from representing 0.01 per cent of GDP to 0.15 per cent in ten years.

Published: 19 May 2022