Module XII·Article II·~1 min read
Payments and Banking Technologies
Fintech
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Payments and Banking Technologies
Payments and banking technologies
Neobank — a bank without branches (only a mobile application)
Robo-advisor — an automated advisor (an algorithm manages the portfolio)
P2P lending — loans between individuals without a bank (LendingClub)
Crowdfunding (equity, debt, reward-based) — raising money via the internet (for shares, for debt, for goods)
BNPL (Buy Now Pay Later) — buy now, pay later in installments (Klarna, Affirm)
Digital wallets — electronic wallets (Apple Pay, Google Pay, WeChat)
Mobile payments — payments via phone
Contactless payments — contactless payments (NFC chip)
Open banking — third-party access to banking data via API (PSD2 in EU)
API banking — integration of the bank with applications via API
Embedded finance — financial services built into other applications (buy in Uber, then pay)
Banking-as-a-Service (BaaS) — banks provide API for other companies
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