E-Business was developed in the mid-90s. This term refers to the set of activities and business management practices resulting from the incorporation into business of information and communication technologies (ICT), and particularly Internet. , as well as the new decentralized configuration of organizations and their adaptation to the characteristics of the new economy.
In the period 1997-2000, the dotcom of the .com took place and between 1999-2000 the expansion of new Internet business models and online banking. Subsequently, social networks expanded and the smartphone boom came.
The technological transformation refers to the incorporation of new technologies, forms of use, new regulations and new products derived from technology. It is about the reinvention of an organization through the use of digital technology to improve the way in which the organization performs and serves its constituents. Digital refers to the use of technology that generates, stores and processes data.
The mere implementation of technology alone does not produce digital transformation, but changing an organization to take advantage of the potential of these technologies does. According to the MIT study, to transform, organizations must redesign their underlying business and operational models, as well as the resulting products and services.
The word Fintech is a compound term that comes from English and that comes from joining the first syllable of the words Finance and Technology. It is a term that arises from the union of two and brings together all those financial services companies that use the latest technology to offer innovative financial products and services.
Its origins can be placed in the crisis of 2008. It deals with the intermediation in the financial world, in money transfers, loans, purchases and sales of securities or advice and investments:
Financing of individuals and companies
- Transfers of funds.
- Financial and investment advice.
- Payments and collections (smartphones, bracelets, etc.).
Also published on Medium.