NEW YORK, Mar. 17, 2021 /PRNewswire-PRWeb/ -- The International Business Times (IBT) today announced that it is releasing its list of the Hottest Fintech Startups 2021, an exclusive club of fintech disruptors and innovators who are helping to create a smarter, inclusive world. The companies that made it to the IBT list are the standout firms in the category—disruptors that are leveraging ideas and cutting-edge technology in digital payments, cryptocurrency adoption, wealth management and digital business models. Fintech companies use innovative technology to automate and improve the use and delivery of financial services.
"This list reflects at once the maturing of fintech as well as its endless, accelerating pace of innovation," explained David Kaufman, Head of business development. "True fintech leaders combine the performance and resiliency of a mature business with the quest for new kinds of service and support. And, as we are seeing, leadership also means being inclusive and engaging with new customer communities. These are the companies we singled out for attention on our list of the hottest Fintech startups this year."
Fintech companies help their customers better manage financial processes and operations. They accomplish this goal through the use of specialized software and algorithms. Originally, the idea of fintech was limited to sophisticated but largely invisible backend systems at big banks. Now, however, fintech also includes consumer-oriented services and user interfaces. Consumers use fintech apps to manage their money or deal in crypto currencies. Fintech services might include activities like transferring money, making a check deposit, applying for credit and so forth. The category works within sectors such as non-profits, banking, education, investment and more.
The fintech sector is definitely large and growing. According to Statista, investment in fintech exceeds $112 billion annually. Seventy percent of senior banking executives said that collaborating with fintech firms to create new services represents an important opportunity to their businesses going forward. An astonishing 38% of personal loans in the US are granted by fintech firms. In just a few short years, fintech has taken over more than a third of the consumer lending market.
IBT Media is a fast-growing online publication that is engaging a new generation of readers with content that speaks to their interests. It also provides analysis that serve their businesses, and insight to make sense of a globally connected world. IBT Media covers fintech extensively, with recent articles discussing how UK fintech firms are dealing with Brexit, the Biden administration's new policies on crypto currency and more.
Ken Frydman, IBTimes, +1 9176264270, [email protected]