FinTech Today

Read Time: 4 mins Amid the pandemic of the coronavirus, we are all aware the economy is falling across all regions of the world and the world is currently under chaos and the economic downfall can be well explained by the healthcare issues we are facing. But the question remains, are we going to see a recession? A quick spoiler - this blog doesn't have a definite answer to that but it'll help you understand the probability of it happening over the next few weeks. First of all, let's understand how and when do we officially term that a recession has come and who defines that? A recession is a significant decline in general economic activity of a region. This macroeconomic term is typically recognized as two consecutive quarters of economic decline, this decline is reflected by GDP in conjunction with monthly indicators such as a rise in unemployment. The National Bureau of Economic Research (NBER) is the one that officially declares recessions. However, the NBER def...

Read Time - 3 mins Shortened for Financial Technology, FinTech is basically a combination of Financial Services and Technology. As the world is advancing more in the technical field and with such advancements in Machine Learning and Artificial Intelligence, the accessibility and accuracy are growing at an elusive pace wherein we all are left with no other option than to adapt to FinTech. Emerging in the 21st century, any innovation which in terms is related to Financial Services and is done with the help of technology can be categorized under FinTech. At its core, FinTech can be used by anyone and everyone and if you observe carefully, we all are surrounded by FinTech and it comes into the picture every time you make payment. There are certain categories in the Finance Sector that are adopting to FinTech or have already adapted to it, there are some huge and recent implementations of FinTech at a global level and to talk a few: Bitcoin is accepted by companies such...