FinTech quite literally means financial technology and is an industry primarily born from the financial crash of 2009-2010. The term refers to any business that uses technology to enhance or automate financial services and processes.
FinTech credit is a term that broadly encompasses all credit activity facilitated by or driven by electronic platforms, whereby borrowers are matched directly with lenders. FinTech credit is also commonly referred to as loan-based crowdfunding, peer-to-peer lending, or marketplace lending.
A finance provider is a financial company or institution that provides businesses or consumers with credit or finance. This can be secured lending or unsecured lending, in other words the finance or lending is secured by tying the transaction to an asset or assets of a company or consumer.
Business risk of a company refers to the risk because of which the business value of the company can be affected, be it via loss of market share, or by new entrants who destroy our business or by many other forms of market competition whereas financial risk is the risk of a company where the company could not manage its finances and goes bankrupt because of liquidity risk, market risk or because it repay its debts.
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default.
Compliance risk is exposure to legal and financial penalties, and other sanctions an organization faces when it fails to act in accordance with industry laws and regulations of the company in which they are operating.
In finance, risk refers to the degree of uncertainty and/or potential financial loss that comes with an financial decision.
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There are numerous types of lending in the United Kingdom – and there are different structures to lending emerging all the time, thanks in part to the disruptive nature and evolution of the FinTech market but there are a number of recognised types:
- Overdrafts, term loans and revolving credit facilities
- Secured and guaranteed facilities
- Bilateral, syndicated and club arrangements