Fintech News

WHAT IS FINTECH

The Basis Point helps you get smarter about fintech, banking, money, and housing. Since you're on our fintech page, let's define it. Fintech is industry jargon for "financial technology." People in banking and housing say fintech for financial technology like people in Hollywood say Kimye for Kim Kardashian and Kanye West.

Fintech is used to describe two types of consumer finance businesses:

(1) New-school banks, lenders, wealth advisors, insurers, and real estate companies that let you to run your financial life from your phone. These fintechs transform online banking, investing, payments (from you to your friends, family, or favorite brands), mortgage approvals, home buying and selling, student loans, and insurance from being super annoying to being as easy as streaming video or ordering toothpaste.

(2) Companies that make software, tools, and platforms to power banks, lenders, real estate companies, wealth managers, insurance, and other finance companies. These fintechs make the lending, insurance, payment, mobile banking, internet banking, insurtech, regtech, and blockchain technology that serves both new-school and old-school finance companies.

Below is a list of our daily fintech news , plus an FAQ on using your current bank vs. a fintech firm, the role of Big Tech and blockchain in your financial life, and what fintech news you can trust.

Should I use a new fintech for online banking or stick with my current bank?
Just like tech reinvented retail and entertainment, fintechs are reinventing banking and financial services. Some fintechs are actual online banks, lenders, wealth advisors, insurers, and real estate companies. Some fintechs connect you to providers of these financial services. And some fintechs make software that modernize your current bank and other financial service providers. Existing banks that are fintech-powered have the advantage of offering most lending, banking and wealth products you might need while also offering a modern bank-on-the-phone experience. And most fintechs that are actual banks have a wonderful experience, but don't have all the products, and sometimes lack the human advice when you need it. See next question for how to make decisions.

How do I choose the right online banking? And what fintech news can I trust?
Choosing the right bank and other financial providers is critical to your long game. You need the right balance of stability, a product set that can meet most of your needs, competitive pricing, digital ease, and human advice. Almost nobody can find all of that in a single bank or fintech. And almost no fintech news source helps you figure this out. While most fintech news is geared toward the business community, The Basis Point is here to help you get smarter about fintech, banking, money, and housing. The Basis Point contains analysis and research on the fintech sector in real-time. We cover what fintech and traditional financial companies that matter and why. And we also cover key economic, financial planning, real estate, and career planning topics in terms you can relate to.

What is real estate fintech or realtech, and how does it impact my home renting, buying, or selling?
Real estate fintech or realtech is a subset of . As part of The Basis Point's fintech news coverage, we cover real estate fintech and realtech because home renting, buying, owning, improving, and selling is related to all other elements of online banking, fintech, insurance, saving, and financial planning (aka wealth management). Whether renting or buying, your home is most often the center of your monthly budget and the primary focus of your financial planning. Real estate fintech firms are trying to create a one-stop shop for you to find, buy or rent, finance, insure, improve, and sell your home. But as noted above with banking, almost nobody can find all of this in one real estate fintech company. And even if you can, you won't get the best deal on all of these disparate services from one source today. You'll get certainly convenience in a one-stop shop provider. And as real estate fintech evolve, they may have both one-stop shop and best pricing for all housing, lending, and insurance services. The Basis Point tracks all of this real estate fintech news for you to make informed decisions.

Will Big Tech take over fintech? Should I just do online lending and internet banking with them?
The Big Tech companies like Google, Facebook, and Apple are indeed involved in online banking, payments, and other ways of helping with your money. Apple has credit cards, and Google has checking accounts. But they're actually partnering with banking and lending companies to do this, and they're powering the bank-on-your-phone experience part of it. So in these early years of Big Tech getting involved with online banking and internet banking, you get their expertise in simplifying your budgeting, saving, borrowing, and investing into a simple phone-based experience. And you also get the backing of whatever banks, lender, wealth managers, and insurers they've partnered with to be compliant with banking laws and protect you. Whether Big Tech actually just takes over the actual banking functions in the future is a story that's taking shape in real time, and The Basis Point fintech news tracks this for you as it's playing out.

What's the difference between a fintech bank, neobank, and challenger bank? What about online banking, mobile banking, and internet banking?
Online, mobile, and internet banking mostly mean the same thing, and refer to four core banking services: budgeting, saving, borrowing, and investing. You should also be aware of other terms in the fintech banking era. Fintech bank, neobank, and challenger bank also mostly mean the same thing: a modern banking firm that's digital-first. These new-school banks, lenders, wealth advisors, insurers, and real estate companies let you to run your financial life from your phone. These fintech banks transform online banking, investing, payments (from you to your friends, family, or favorite brands), mortgage approvals, home buying and selling, student loans, and insurance from being super annoying to being as easy as streaming video or ordering toothpaste. They're sometimes called challenger banks because they're challenging the traditional banks with a modern, digital first approach. The Basis Point covers all of this fintech news for banking in terms you can understand.

What is insurtech or insurance technology, and should I care about how it impacts my insurance?
Insurance technology -- or insurtech for short -- can be defined in two ways. First, it can describe modern, digital-first insurance companies in the same way that fintech banks does it for the banking companies. An insurtech gives you a phone-based experience to find, pay for, manage, and make claims on your insurance. This is a sprawling industry since there are so many different kinds of insurance for you as a homeowner, renter, driver, person, etc. Second, it can describe the software companies that power both cool new startups as well as big name-brand insurance companies who need to modernize. On the surface as an insurance shopper, you'll more about the first definition because you'll see bright new insurance companies telling you how easy it all is. But if you read The Basis Point, you'll find out about the cool new software that's rewiring your existing insurer to make them cool again too. And this kind of insurtech and fintech news makes you a smarter decision maker on your insurance.

What is regtech and how does it protect my personal finances?

Is blockchain considered fintech?

What's difference between blockchain, cryptocurrency, and fintech?
cryptocurrency news, blockchain news

What is the role of blockchain in fintech, banking, and real estate?

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