What is the difference between fintech and banks?

Fintech and bank both are better in terms of their sector but here are some difference between two of them.Fintech is basically known for his new technology and automate and banks are the institution which secure money accept deposits from the comsumer and give loans to them when they are in need fintech is much preffersd has compare to traditional banks because it gives a better technology and functional efficiency.

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Thanks, Umesh for this informative answer. Fintech is a new technology with fast networking system whereas banking needs some new reform to level up with fintech.

The main difference is that traditional banks are full financial institutions that handle services like savings accounts, loans, and physical branches. Fintech companies, on the other hand, use technology to provide financial services in a faster and more digital way. Fintech platforms often focus on things like online payments, digital wallets, and automated financial tools, making financial services more convenient and accessible through apps or online platforms.