Image from Pixabay Fintech of financial technology has changed the financial services sector in many ways. Globally, migrant workers remit billions to their home countries. International remittances form a considerable chunk of the GDP in some countries. It is costly to remit funds via money transfer operators or banks. Most people lose a lot of money through transaction charges and hidden fees. Fintech and money transfer applications have helped by cutting down on transaction costs. Fintech applications, for these reasons, have become very popular for international money remittances.