What Does Fintech Mean? - YouTube

Thanks for checking out this video. So, what is FinTech? You hear this words

FinTech being thrown around all over the place.

FinTech can mean a lot of things nowadays. FinTech probably a few years

ago was just so focused on business lending and lenders utilizing technology

in order to provide financial services. FinTech really started in this business

lending space where a lot of business lenders started using, utilizing

technology to provide business loans. But FinTech has just become so much broader

now. It's really short for financial technology. Yeah, what does that mean? Well,

it basically is any company now utilizing technology to offer their

product and service in a very simple and streamlined way. So now, you can get a

mortgage online. You can get a student loan online. You get your car insurance

very quickly online. You get a business loan online. You get a personal loan

online. And there's been so many companies now that have created a much

more efficient simple and easy way to get a number of these financing products

that really just have changed the game in the financing world. And it used to

just be... You know, the only place you can go to get any type of financing was a

bank. And that really is... That's changed a lot. Now it's a lot easier to not go to a

bank and to get your mortgage or a personal loan or a car loan or your

insurance. Even retirement and investing. You know, you can do with these

online platforms now that are more efficient easier and even less expensive.

So, it's really wild. You know, back when I started my company --National Business

Capital And Services, it was back in 2007. We're like one of the originators in the

FinTech space. You know, we are building out a simple and easy way for business

owners to apply and get financing and we created a platform that now is over 75

lenders. And we provided 1 billion dollars in financing to small business

owners all across the country. You know, we started building all this out back in

2007. There wasn't even the name FinTech. So, I'm like a

dinosaur in the FinTech space. Which is kind of crazy to say because I'm

technically still young. So, FinTech has become a real broad word. There's FinTech

in a lot of different industries today but it's really any financial services

company that's utilizing technology to really just provide an awesome and

simple, fast and efficient process to provide their financial product or

service, You know, what you really can be excited about with FinTech is

this new FinTech movement has really gotten companies to innovate and make

their processes faster and easier. So, it's really just made it convenient for

all of us to do a number of different things that we have to do in our lives.

Again, as I mentioned earlier. To get a mortgage, a car loan, car insurance. We're

able to do all these things. Business financing, we're able to do all these

things online now. Very quickly faster than ever before.

So, FinTech is really just providing massive amounts of convenience and what

I think is really great is it's woken banks up who didn't want to change for a

number of years and has gotten them to actually be innovative and provide more

convenience. Because up until a few years ago is very inconvenient working with

banks and there is nowhere else to go. So, why innovate and why spend the money?

FinTech has really started to change the game for a way a lot of people

do business in the financial services arena. Yes, I guess if you're looking for

any type of financial services or product, whether it be alone

or service. You know, make sure the company that you're working with is up

to date with their technology. So, you can have the most convenient and easy

process that's available. FinTech is also even going further now. I guess

you'd even call this blockchain and cryptocurrency is really a part of the

whole new FinTech movement. And I think in these next years to come, FinTech is

just going to continue to change the game and the way we do things in

business and in our personal lives. And it's really going to be awhile to see

what comes out next. Technology is really just changing all of our... It's changing

all of our businesses and our lives the way that we do things. And I'm super

excited to see where everything goes. So, if you're in need of a business

loan, we've created a FinTech platform that has over 75

lenders on it. We've provided a billion dollars to small business owners

all across the country. Check out the link below and please feel free

to reach out to us and we're here to help and answer any questions you might

have and navigating through the FinTech space. Thanks for tuning in and we'll

talk soon, take care.