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FinTech Hub (formerly known as International Financial Hub) is a financial, commercial Centre and business district located in New Town city, which lies outskirts of Kolkata under its metropolitan area in the state of West Bengal, India. The hub has the presence of a large number of banking, financial companies and legal institutions. Many major companies have their headquarters, offices and training centers operational or under construction.
The word "FinTech" is a combination of the words finance and technology. This represents an evolution of the technology when applied to the back end of established consumer and trade financial institutions. FinTech is a dynamic segment of the financial services sector that is gaining significant momentum and disrupting the traditional financial services value chain. Investors have invested billions in FinTech start-ups in recent years. The majority of global financial services companies plan to increase FinTech partnerships, as investors recognize that the FinTech space generates real innovation and opportunity.
FinTech companies create an ecosystem that fosters the collection of vast amounts of data and builds trusted relationships with clientele. Financial Institutions have realized the importance of these ecosystems and are attempting to engage with and bring innovation inside their companies. However, FinTech is relatively new to the financial world of India, and New Town's Fintech Hub offers an incubation ground for this new concept.
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