FinTech defined by Harvard Business Review is the application of technology and innovation to solve the needs of consumers and firms in the financial space. FinTech is one of the most growing fields in the past decade. The surge of access to technology, specifically mobile phones, had almost reached an increase of 120% in Kenya. An increase in phones had increased the demand for more financial access through smartphones.
Sources:
Smith, Tyler. “How Kenyan Banks Are Keeping Pace With Ever-Automated Customer Experiences.” The Fintech Times, 19 Mar. 2021, thefintechtimes.com/how-kenyan-banks-are-keeping-pace-with-ever-automated-customer-experiences/.
Chitavi, Mike, et al. “Kenya Is Becoming a Global Hub of FinTech Innovation.” Harvard Business Review, 18 Feb. 2021, hbr.org/2021/02/kenya-is-becoming-a-global-hub-of-fintech-innovation.
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