What is Fintech And Why Is It Such An Awesome Industry?

what is fintech

Fintech. You’ve heard the term used (especially amongst millennials) and you can probably guess that it’s sort of like finance, sort of like technology. And that’s a great start (at least you didn’t think it was part of a surfing brand). But let’s get technical- what exactly is fintech? And why is everyone talking about it?

For almost a century, money and success have been synonymous with the financial industry. People gained enormous wealth from hedge funds and investment banking, and ever since, bankers have gained a reputation of generally having lots of money. Since the early 20th Century, people have migrated in droves to the likes of The City of London, or to Wall Street, in search of an exciting career where high-risk, high-reward was the name of the game.

This was the case right up until the financial crash of 2008, where the financial industry took its largest plummet since the Great Depression almost 80 years before. Since then, doom and gloom mongers have labelled the financial industry as dead, and predicted that fortune lies hidden in some other industry. Also, as people become less inclined to spend their whole life at a desk or on a trading floor, so the financial industry has generally become less appealing to new job hunters.


An incentive to buy products from a certain retailer- when a purchase is made, you receive back a small portion of the purchase

Challenger Bank

Small, new banks that challenge long-term older banks by offering great benefits (Monzo, Starling, etc.)

Digital Banking

Refers to banking done through the internet (or via apps)

Exchange Fees

The fees that your bank charges you when you make purchases abroad

Interest Rate

The additional cost that your bank charges you for taking out a loan

Technology“that’s where all the money is.”  You’ve definitely heard this one before. To be honest, it’s a difficult statement to dispute. When the likes of Apple, Facebook and Google all have their headquarters in Silicon Valley, it certainly  appears that the largest companies in the world tend to share a common home. In the last 15 years or so, degrees in computer science and the like have skyrocketed, as ambitious youths aspire to found the next Facebook or WhatsApp.

And unlike the financial industry, which is more based on analysis, the technological industry embraces innovation, so those with a flare for the creative are often more attracted to working in this field. But the technology industry can be a cause of concern for some. Some people fear that technology is more efficient for companies than people, and, as firms try to maximise profit, more and more people are being replaced with machines ( 👋 The Terminator!).

terminator GIF

If only there was an industry that had the best of both worlds? (Can guess where we’re going with this?!). Fintech, in many ways, is the lovechild of the financial and technological industries. Whilst many technological companies are headed towards the belief that technology is always the most efficient, Fintech companies are often more consumer-facing. Fintech firms, like Curve, do and always will, value human input. But that’s not all. We use technology to help us achieve our maximum potential allowing us to maximise our creative input. In a company like Curve, there’s a strong distinction between human and machine. Also, companies like Curve place a strong emphasis on communication; there’s a team of content writers (Hi! 😀) who write Discover Curve articles every day to keep you up to date with exciting and relevant content. So, by keeping in touch with you, we don’t fall out of touch. In short, half of our company is trying to improve the world with technological advancements, and the other half is trying to bring the world with us.

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