Whois & Analysis for banknaija.com

Financial technology (FinTech or fintech) is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services.

FinTech is a new industry that uses technology to improve activities in finance.

The use of smartphones for mobile banking, investing services and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public.

Financial technology companies consist of both startups and established financial and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.

A bank is a financial institution that accepts deposits from the public and creates credit.

Lending activities can be performed either directly or indirectly through capital markets.

Due to their importance in the financial stability of a country, banks are highly regulated in most countries.

Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities.

In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.

Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States and the United Kingdom.

Understanding basic financial concepts allow people to know how to navigate in the financial system.

People with appropriate financial literacy training make better financial decisions and manage money better that those without such training.

In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.

However, this article focuses specifically on investment in financial assets.