FinTech Today

Read Time: 5 mins The Global Financial Crisis was the downturn in the market that took place from mid-2017 and lasted until early 2019. Also known as the United States subprime mortgage crisis, the reason behind the crisis, as is well understood by the name, was the housing market of the US. The US housing market was valued pretty high due to lots of misinformation, this misinformation came into the knowledge of experts in mid-2017 and investors started taking money out of the market and as the awareness spread, more people started moving their money leading to the domino effect which led to the crisis. How it all started? In 2001, as we know, the U.S. economy experienced a mild, short-lived recession which happened due to multiple reasons such as the dot-com bubble, 9/11 and multiple accounting scandals. Although the economy nicely withstood the terrorist attacks, the accounting scandals and the bust of the dot-com bubble, the fear of recession really preoccupied everybody...

Read Time - 4 mins History of Lehman  It all started in 1844, when Henry Lehman, a German immigrant, came to Montgomery, Alabama and started a small general store in 1844. Henry Lehman and his brothers, Emanuel and Mayer, later founded Lehman Brothers in the year 1950. The company that started by selling dry-goods moved to cotton trade. After the death of Henry  Lehman, in 1855, the other brothers expanded Lehman Brothers and started commodities trading and brokerage services. To complement the growth of the U.S. economy, Lehman Brothers prospered over the decades and reached a value of $600 billion before the collapse in 2008. Although, Lehman has overcome a lot of challenges over the years such as the railroad bankruptcies in the 1800s, the Great Depression in the 1930s, both world wars, the American Express spun off in 1994, the Long Term Capital Management collapse alongside the Russian debt defaults in 1998, the global recession or the subprime mortgage crisis wa...

Read Time - 3 mins Let us see how FinTech gained traction and how it has evolved in the last 2 decades. As we all know that FinTech is not anything new that has originated from a Pandora's box and has existed since the 1950s. In this article, we'll focus on how has it grown in recent years, what was the need for FinTech and how it took such an elusive pace. How the world started heeding FinTech? As the saying goes "In the middle of difficulty lies opportunity", the FinTech startups saw the opportunities during the Global Financial Crisis of 2008. To understand this, let's understand what the global financial crisis was and how it impacted millions of people.   The Global Financial Crisis centered in the US was a downturn in the housing market of the United States. Easier lending processes and the erroneous AAA accreditations of multiple mortgage-backed bonds were the catalysts for the financial crisis. Millions of peoples lost their jobs, multiple ban...