Open Access

Amelié Hammann

• The technological advancement in the business sector, in particular in the banking world, forces the financial sector to adapt its services. The Fintech companies aim to cope with these advancements and change the money management for clients. The question that arises is how the FinTech companies have developed and if they are profitable. That is the reason for the research of the development of the Fintech companies theoretically and practically, focusing on their financial performance. The methodology used in this paper is for the first chapter gathering existing knowledge of previous studies and including law directives to underline the development and in the second chapter using the information available from the companies itself. One can conclude the development of the acceptance of digitalized banks have increased after the economic crisis in 2008. Furthermore, the regulatory systems have problems coping with the velocity of change and the income of new products and services. The practical analysis of the FinTech companies show, that they do have certain advantages for clients, but are not immune against economic volatility. Having analyzed existing companies is beneficiary for the research field, as for now no practical analysis of the companies have been done. Nevertheless, the limitation of this research is due to the fact of probable biased information from the companies.