Global investment in financial technology (FinTech) ventures tripled to $12.21 billion in 2014, to over $27 Billion expected in 2018, clearly signifying that the digital revolution has arrived in the financial services sector.

Fintech (Financial Technology) is the convergence of Information Technology (IT) and Financial Services. Examples include mobile payments, cybersecurity, trading analytics and the list goes on. Additionally, it is a commixture of financial technology and is paving the way for new efficiencies and innovation within the world of finance.  There are several factors that help explain FinTech’s emergence as a growth sector, including technology such as social networks, a favourable regulatory environment and demographics. These factors may gave FinTech options an increasing advantage over traditional financial services.


FinTech has a large scope and varies from payment systems, to loans, to accounting software. Many smaller financial tech  companies are taking on big banks and challenging the status quo for payments, banking method and financial services. Here are a few examples of how FinTech is changing the financial landscape around the world.

  • Qudian: Started in 2014, Qudian is a provider of online small consumer credit in China. They take advantage of big data and innovative technologies such as AI and machine learning to make data-driven decisions, and make personalized credit or microloans more accessible. They target young, mobile active Chinese consumers that may not qualify or be in a position to take a loan from a traditional bank. The CEO Luo Min believes the online-only ability coupled with the latest technology and data analytics can bridge some of the inefficiencies of big banks. The difference    between Qudian and a predatory lender is the flexible micropayment terms they offer.
  • ClearBank: Founded by entrepreneur Nick Ogden, is a “bank for banks.” It will not offer any services to consumers. They offer payment processing and core banking services to fintech startups, credit unions, societies and other “challenger banks.” It is built using Microsoft’s Azure cloud, and claims it can offer cheaper and faster clearing services to small financial firms that need access to these payment systems.
  • Apple Pay: The technology behind Apple Pay, linking your credit card or debit card to your Apple Smartphone or Watch to pay for goods may be the most widely used in everyday life. The Near Field Communication (NFC) is the technology behind Apple pay which allows your device to communicate with other devices containing an NFC tag.
  • Ayden: The all in one payment platform is a one-size-fits-all” for payments such as Apple Pay, Spotify and Uber. The technology is behind most mobile and online payment pages as well.
  • All “Big 5” accounting firms now use financial technology in their operations. Accountants especially are at risk because quite frankly, an AI accounting system could replace an accountant and cut salary costs dramatically.


Financial technology is already all around us. Whether it’s behind the scenes in banking operations, acquiring loans or paying for groceries, fintech is only getting more diverse and applicable to the world around us, learning how to use and integrate with it will be important going forward.



The Challenge

How can we leverage financial technology to address one or more global goals, and solve a global problem?


Find out more at the FinTech Canada Conference in Toronto on August 16, 2018.

Take the Challenge

co-Learn the PIE method and build a team, choose a challenge that you’re passionate about and apply PIE to co-Solve and co-Create projects with impact. Build your portfolio and tap into your infinite learning potential.


Prepr Challenge Kit

What You Will Get

– Receive a Prepr Certificate in problem solving with PIE
– Compete to win first, second and third place trophy and bragging rights
– Build your professional portfolio
– Win prizes, giveaways and more…

Challenge Date


1 OUT OF 24


Eradicating poverty is not a task of charity, it is an act of justice and the key to unlocking an enormous human potential.Learn More

2 OUT OF 24


End hunger, achieve food security and improved nutrition and promote sustainable agriculture.Learn More

3 OUT OF 24


Ensure healthy lives and promote well-being for all at all ages.Learn More

4 OUT OF 24


Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.Learn More

5 OUT OF 24


Achieve gender equality and empower all women and girls.Learn More

6 OUT OF 24


Ensure availability and sustainable management of water and sanitation for all.Learn More

7 OUT OF 24


Ensure access to affordable, reliable, sustainable and modern energy for all.Learn More

8 OUT OF 24


Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.Learn More

9 OUT OF 24


Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.Learn More

10 OUT OF 24


Reduce inequality within and among countries.Learn More

11 OUT OF 24


Make cities and human settlements inclusive, safe, resilient and sustainable.Learn More

12 OUT OF 24


Ensure sustainable production and consumption patterns.Learn More

13 OUT OF 24


Take urgent impact to combat climate change and its impacts.Learn More

14 OUT OF 24


Conserve and sustainably use the oceans, seas and marine resources for sustainable deveolpment.Learn More

15 OUT OF 24


Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity lost.Learn More

16 OUT OF 24


Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels. Learn More

17 OUT OF 24


Strengthen the means of implementation and revitalize the global partnership for sustainable development. Learn More

18 OUT OF 24


The increase in all forms of artificial intelligence is having a significant impact on society and is continuously changing the way we live, work and interact. Learn More

19 OUT OF 24


Blockchain technology is changing the landscape of traditional financial services. Whether its through logistics, cryptocurrency or encrypted communication, blockchain is here to stay. Learn More

20 OUT OF 24


How should technology based solutions should be used within urban planning for the future prosperity of a city. Learn More

21 OUT OF 24


With a majority of our personal and financial information living in accessible portals online, cybersecurity is more crucial than ever. By 2020 it is estimated that over 1.5 billion people will be affected by some sort of data breach. Learn More

22 OUT OF 24


Advertising and Marketing technology are changing the way that businesses and organization handle their marketing and public relations. Learn More

23 OUT OF 24


Global investment in Financial Technologies have more than tripled in recent years, signifying that a digital revolution has arrived in the financial services sector. Learn More

24 OUT OF 24


Market growth within Augmented and Virtual reality show that the market is expected to reach over $2.8 billion by 2023. Learn More

Join the network today and tackle the challenge