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FinTech and its Importance

   

Added on  2023-01-09

14 Pages836 Words56 Views
Islamic
FinTech
PRESENTED BY:
MUHAMMAD HUZAIFA-19435
YALNAZ BAIG-19442
TAHA QAMER-18978
MUFADDAL MUNAWAR-19453
HASAN SABIR-18897

FinTech and
its
Importance
 FinTech-Finance and Technology
 Financial Technology industry
 An industry made of companies that provides
financial services.
 Has been around for decades, gained
popularity recently.
 FinTech firms pace up the financial
transactions of individuals and of companies.
 These transactions are very common these
days, and so FinTech plays a major role here
by allowing access to these services through
technology.

Conventional FinTech
 In the 21st century, FinTech allowed technology to be
used at the back-end systems of financial organizations.
 Now, there has been a shift towards consumer related
services.
 Investment management, education, nonprofit fundraising, and retail
banking, among others are some industries impacted by FinTech
today.
 Bitcoins are also part of FinTech. This sector has the most attention
these days, but the real cash comes is still generated from the
conventional global banking business.
 Global FinTech investment was estimated to reach $135.5
billion by 2021 but the deals drove over an amount of
$210 billion.

Introduction
to Islamic
FinTech
 In Islamic finance, shariah laws and regulations
are of immense importance to the products.
 Right now, the processes are manual but the
introduction of artificial intelligence can
increase efficiency, transparency and save
time as well.
 Islamic fintech represents a relatively small part of the
global fintech industry.
 Many Islamic finance sites are currently using Islamic
crowdfunding.
 Brunei Darussalam, Malaysia, Bahrain, and the UAE
have released FinTech regulatory frameworks that allow
new business models to be tested under regulated
conditions by banks , institutions and start-ups.

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