Business Solutions & Software Group Blog

The purpose of technology is, in a nutshell, to improve a task to make it less difficult and/or more efficient to complete. This has lately been demonstrated in the information technology that powers the financial services industries. Finance, insurance, and banking have all seen their processes benefitted by “FinTech.” Let’s examine FinTech to gain a better appreciation for it and its capabilities.

You might recall getting a notice from your bank that you’ve been issued a new debit and credit card, one with a chip built into it for enhanced security. There are ATMs out there created specifically for use with these chips, but the same technology created to protect user credentials is now being used to steal them for fraudulent withdrawals.