What is the difference between fintech and financial innovation?

Fintech and Financial Innovation

Fintech means financial technology, the combination of finance and technology. Over the last one decade, a large number of fintech firms have emerged.

Financial innovation, as the name suggests, means an innovation in finance field.

A fintech firm might come up with a financial innovation or might not. A firm that is not a fintech, can also come up with a financial innovation. Financial innovation might involve technology or might not.

For example, we at QuietGrowth are a fintech firm, and we are offering to our clients a financial innovation known as digital advice or robo advice.

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