![]() But, even more importantly, this FinTech revolution is unique in that much of the change is happening from outside the financial industry, as young start-up firms and big established technology firms are attempting to disrupt the incumbents, introducing new products and technologies and providing a significant new dose of competition. So, what is so special about the current FinTech revolution? First, the pace at which new technologies are tested and introduced into finance is faster than ever before. Consider, for example, the introduction of ATM machines or the use of wire transfers as key innovations. Of course, technology has always influenced the financial industry, with advancements changing the way the financial industry operates. ![]() FinTech, as the name suggests, is the fusion of finance and technology.
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