{"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":"<p><span style=\"font-weight: 400;\">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?&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-13524 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor 26th June \u2013 3rd July'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-26th-june-3rd-july\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/07\/7dc36d63-3b7c-48b8-a377-3677813bdb251-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15102\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15102'>\n\t\t\t\tBFC FinTech Monitor 26th June \u2013 3rd July\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Standard Charted and Huawei team up to create IoT banking solutions'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/standard-charted-and-huawei-team-up-to-create-iot-banking-solutions\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/12\/standard-charted-and-huawei-team-up-to-create-iot-banking-solutions-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11862\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11862'>\n\t\t\t\tStandard Charted and Huawei team up to create IoT banking solutions\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='DT Fraud Conference 2019 \u2013 banking and payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/dt-fraud-conference-2019-banking-and-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/11\/dt-fraud-conference-2019-banking-and-payments-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11651\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11651'>\n\t\t\t\tDT Fraud Conference 2019 \u2013 banking and payments\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>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?&nbsp; At its most simple level, FinTech refers to financial companies looking at technology as a way to improve services &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[449,77,35],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13524"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=13524"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13524\/revisions"}],"predecessor-version":[{"id":13525,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/13524\/revisions\/13525"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=13524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=13524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=13524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}