Top 5  Fintech Business Models for 2023



You can use the funds to buy goods and services and pay a seller who accepts digital payments. American Express, Apple pay, PhonePe, Ezetap, Venmo, Square Cash, Google Wallet/GPay, etc.

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Digital Banking

It combines technology with banks to access banking services like checking account balances, transferring funds, paying bills, and cashing checks.

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Peer-to-peer lending

P2P lending platforms can link various borrowers and lenders while charging a fee for the repayment transaction and the lenders can earn higher returns with other low-risk investments.

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Alternative credit scoring

This fintech approach is intended for small company owners that do not satisfy the criteria for eligibility based on traditional credit scoring, preventing them from accessing loans.

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Alternative insurance underwriting

This is more like alternative credit scoring, and it works through several advanced computing algorithms that use other data points, such as lifestyle data, financial information, and medical history.

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