Irish Series: What is Fintech?

FinTech refers to Financial Technology, and is taking the business world by storm. It describes the use of technology to deliver financial services and products to consumers. For example, you can now open a bank account over the internet, even using an app, without ever having to visit a bank or financial institution. The FinTech industry is changing the way that people bank, manage their money as well as changing the investment and insurance industries. The industry delivers financial technology solutions to both consumers and businesses alike.

The FinTech industry in Ireland is growing and the country is now supporting a vast number of inernationally operating businesses, including most recently Fexco, which is one of the world’s longest-established FinTech companies, with expertise in the area of foreign exchange. Many globally successful FinTech companies have been developed by Irish minds, including Fexco and Stripe, which is a technology company whose software allows individuals and businesses to receive payments over the internet.

Enterprise Ireland has also revealed a new €750,000 Competitive Start Fund focused on FinTech and deep tech start-up companies, which will support ventures in areas ranging from fintech to proptech (property technology), AI, augmented and virtual reality, blockchain and cloud.

FinTech products provide speed, convenience, value for money and greater choice to consumers, be they individual or business. It is no wonder that Ireland is becoming a global hub for international FinTech industries, particularly with events such as MoneyConf Dublin taking a place on a world stage and with the work being carried out by Enterprise Ireland in promoting the industry in Ireland.

At Meaby & Co, we keep our finger on the pulse. Contact our team to discuss opportunities, in the UK or in Ireland – Caoimhe Boyce, on cboyce@meaby.co.uk.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *