{"id":13524,"date":"2019-09-02T08:58:36","date_gmt":"2019-09-02T08:58:36","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=13524"},"modified":"2019-09-02T08:58:36","modified_gmt":"2019-09-02T08:58:36","slug":"the-difference-between-fintech-and-techfin","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/the-difference-between-fintech-and-techfin\/","title":{"rendered":"The difference between FinTech and TechFin"},"content":{"rendered":"

In 2019, FinTech is not a new concept, with most people having at least some understanding of it. But this is not the case for TechFin. What is it? And how is it different from FinTech? <\/span><\/p>\n

At its most simple level, FinTech refers to financial companies looking at technology as a way to improve services and consumer experiences. TechFin, on the other hand, refers to a technology firm that wants to deliver financial products on the basis of existing tech solutions (e.g. Google, Amazon, Facebook and Apple). Jack Ma, a co-founder and executive chairman of Alibaba Group, has described the difference between Fintech and TechFin in an interesting way: \u201cThere are two big opportunities in the future financial industry. One is online banking, where all the financial institutions will go online; the other is internet finance, which is purely led by outsiders\u201d. In other words, it really comes down to a matter of how each approaches financial services.<\/span><\/p>\n

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