Financial technology, also known as FinTech, is an industry composed of companies that use technology to make financial services (narrow view) or any segment of their process (broader view) more efficient and accessible. Financial technology companies are startups or already established technology companies trying to replace or enhance the usage of financial services of incumbent companies.Electronic commerce, commonly written as e-commerce or eCommerce, is the trading or facilitation of trading in products or services using computer networks, such as the Internet or online social networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle although it may also use other technologies such as e-mail.