The paper is a modest attempt to explore the Innovative FinTech Business Models and the significance of Financial Institutions. FinTechs are companies that combine technological and financial attributes in their business models. In recent years, the rise of FinTech has attracted much attention since they challenge incumbent financial service companies including the traditional banking model. Innovative FinTech Business Models are Bitcoin, Tag Cash, Oradian, Satago, Simple Tax, Transfer wise, Holvi and TRDATA able to become a success because they could reach out to a humungous Global market. However, the growth in FinTech industry has not spurred up only because of small-scale entrepreneurs; the role of major financial industries cannot be neglected in this regard. The entrepreneurs work at small-scale in the FinTech industry. They have the capacity to bear the risk of failure in a better way as compared to the major financial institutions. Financial institutions work entirely on public trust. They are highly regulated by the financial authorities in order to add up to their reliability. These financial institutions are answerable to the public for all their operations and therefore, they have to closely guard their investment choices.
Volume 11 | Issue 5
Pages: 122-125