Igor Kaparis Explains How Fintech is All Around Us

Fintech refers to the modern use of new technologies to improve the banking services, delivery of products, investing, insurance, and other fields associated to finance. It even refers to any business using the software, mobile devices, the internet, or the cloud to form and offer financial services.

Fintech (Financial technology) is all around us, starting from daily activities such as buying coffee at a local shop to bulk payment apps and cryptocurrency. Fintech aims to advance financial services and make them more available to the public.

In this post, Igor Kaparis (the CEO of International Fintech) will explain how Fintech works and give you examples of its use.

Mobile Payments

Nowadays everyone pays through mobile apps. Thanks to hi-tech innovation, the global financial system is moving rapidly from cash-based to digital transactions. Examples of some mobile payment service providers are Apple Pay, Google Wallet, and PayPal services.


It is also called insurtech that includes home insurance, car insurance, and data security. Fintech innovations have influenced the insurance industry by enhancing efficiency, reducing costs, improving risk evaluation, and providing good customer experience. According to research, 86% of insurers believe that rapid innovation is essential if they have to maintain a competitive edge in the market.

Cryptocurrency and Blockchain Technology

Cryptocurrency and Blockchain technology have helped make financial transactions quicker and secure. According to the research, more than 61% of large digital industry names have invested in blockchain technology.

Stock Trading and Robo-Advice

With the help of Robo-advisors (digital-based financial advisors), customers can find answers to investment and finance more proficiently and at lower costs. Robo-advisors can shape investment plans to the respondents’ exclusive characteristics, including age, risk tolerance, current debt, personal assets, and such.

Digital Lending and Credit

With the help of open banking technology, customers can borrow money without any hassle. Open banking refers to the allocation of financial data electronically and firmly under customer-approved conditions. Many lending apps control the customer’s transactional details to make lending decisions. Some use P2P lending where users can have loans without the need for bank involvement. Many Fintech startups offer customers free credit reporting that includes updated scored and insights.

AI Virtual Assistants

Virtual assistants boast user’s mobile experience and access to services from the financial institution. With this hi-tech innovation, customers can access their credit score data, get aware of fraud, and formulate voice or text-enabled payments.

Budgeting Assistance Apps

Another useful finance example is budgeting apps. Created as a financial technology solution for customers who make lots of effort to track their finances and spending, these apps have gradually grown in popularity. They help consumers keep their income, monthly spending, and payments in check.


Now, Fintech companies are approaching and pushing the boundaries in payment, lending, insurance, blockchain, and other important financial services. As such, more financial institutions will be enforced to invest in Fintech startups to sustain with the ever-changing digital trends. Firms should be ready to connect with regulators and press for regulatory modification where it is necessary for the interests of customers, markets, and competition.

Kalyani Sinha
Kalyani Sinha
Kalyani is an avid research scholar from New Delhi. As a person, she is strongly mellow and adamantly non-Art. Unorthodox; literature is soul. Not only is she in demand for the curious ability that she prospers to capture the essence of technology and development , it is also that, set as a milestone in her journey filled with intrigue, is the study of cryptocurrencies and blockchain. A stepping stone in this journey is her role at StackZea.