In this tutorial, I’ll explain FinTech and challenger banks and show you the apps to use so that you can run your financial affairs from a smartphone.
FinTech is the term given to a new wave of startup technology companies challenging conventional ways of transacting business within the financial sector. FinTech being short for Financial Technology. Such banks are sometimes called neobanks.
In London, these companies are predominantly based in and around an area dubbed silicon roundabout.
Such companies are not confined to the United Kingdom. There’s some innovative thinking coming from overseas, too, some of it available to customers in the UK.