F intech, or financial technology, is swiftly changing the financial landscape and how financial services are provided to people and businesses. Financial technology, according to Siddharth Mehta, CIO of Bay Capital, refers to companies—often start-ups—that are disrupting the financial services sector and offer a range of financial services. Wealth and brokerage, lending and credit, and payments and transactions are the categories with the biggest concentrations of fintech businesses, according to KPMG's Fintech 100. Fintech is growing in other financial sectors as well, including blockchain, mortgages, and neo-banks. The products, services, and customer experiences of traditional banks and financial service providers are put to the test by digital native enterprises, who operate with or without a current banking licen s e. Bay Capital's Siddharth Mehta added. For the banking sector, the growth of financial technology offers both advantages and disadvantages. Accord...
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