Application of Fintech Solutions for Promoting Islamic Social Finance

Abstract

Fintech is a combination of finance and technology aiming to provide better solutions in the financial world by using modern technology. For instance, with Fintech tools the banking and non-banking institutions are upgrading the payment and intermediation systems to the next level such as the usage of cell phones in financial transactions and digital finance institutions. According to a survey by Gallup financial institutions are paying more attention to social media interactions in order to rethink their product development process.