Answer to Question #271999 in Finance for yasmin

Question

How are FinTech start-ups and Big Tech firms competing and

cooperating with incumbents from big finance? How has Big Finance

reacted?

Answer 1

Fintech regulations are more flexible than traditional restrictions, making the industry riskier. However, people continue to use it because it provides a more efficient, cost-effective, inventive, and user-friendly experience. Additionally, there are additional functions that are not available at typical banks.