• Carl White
• 29 Apr, 2021

Most fintech firms are not—and do not aim to be—full-service financial institutions. They do not meet the definition of a bank—an institution that takes demand deposits and makes loans. They typically market their narrow range of products to specific market segments, such as students, small-business owners and freelancers. Some seek to serve the under- and unbanked who may not want or need a bank to meet some objectives, such as savings, person-to-person payments and small-dollar loans.
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