Top Fintech Companies Shaking Up the American Financial System
Financial technology has been around for generations though interest in the term “fintech” has surged since 2015. This article looks at legacy fintech companies and a separate list of fintech companies founded more recently that have raised hundreds of millions of USD… $$$
what is fintech?
On September 18, 1958 BankAmerica, a precursor to today’s Bank of America mailed out 60,000 BankAmerica cards to their existing customers in Fresno, California. The town only had about a quarter million people in it, 45% of which were already BankAmerica customers. At the time there was no such thing as a “credit card” and certianly no regulation around such arrangements. Cards arrived ready to use and the first credit card network was born. The experiment was a huge success and a new piece of financial technology — the credit card — became available to American consumers.
Fintech stands for financial technology and according to Google Trends started becoming popular in about 2015. It commonly is associated with newer startup companies but isn’t necessarily the case. We’ll explore more in the rest of this post.
