VISAKHAPATNAM, NOVEMBER 14, 2017 00:00 IST
Financial technology (FinTech) is a new technology which aims to compete with traditional financial methods in the delivery of financial services. The use of smartphones for mobile banking is an example of technology aiming to make financial services more accessible to the general public. FinTech as an Ecosystem. Collectively, governments, financial services enterprises, and FinTech start-ups form an ecosystem. From an innovation outlook, one's endeavour help further another’s. The companies work with understanding and one company look what others are doing and make adjustments to improve their product.
Government of Andhra Pradesh is very aggressive in the information technology sector and chalked out a strategic plan to put Indian Financial Technical Industry in the fore front through Fin Tech Valley Vizag. An exclusive FinTech India show was held at Shibuya, which has attracted the attention of innovative community of Japan. A friendship agreement is already in place with Finolab, which is a hub of FinTech companies in Tokyo.
The delegation lead by IT Advisor to Chief Minister of AP was well received in Japan and the indications are that many organisations in Japan are willing to support Fin Tech ecosystem in Vizag.