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inancial technology, or fintech as
it is more commonly known, at
its most basic means using tech-
nology to deliver better financial
products and services. In many
ways, the fintech revolution
has already taken place. Bank
customers can use their smart
phone devices to check their
account status, pay bills and
deposit funds. In fact, because of
technology, individuals almost
never need to visit their bank
branch for routine transactions.
H Fintech also refers to the
hundreds of companies that have
PARTNERING WITH BANKS emerged in recent years, from
IS KEY TO FINTECH’S FUTURE marketplace lenders to pure
technology players. Fintechs
By CHUCK M cBRAYER burst on the scene in the wake of
the financial crisis as an alterna-
tive to traditional banking, rais-
ing expectations that they, rather
than conventional banks, would
drive the industry’s future.
28 | THE TEXAS INDEPENDENT BANKER
