As of 2019, 75 percent of consumers globally have adopted some form of money transfer and/or payment service. Fintech companies have been able to gain a deeper understanding of the advantages of cloud computing. This type of technology allows them to improve their security and flexibility while also increasing their global reach. Cloud computing is a type of hosting service that allows businesses to access various computing resources and services over the internet. It took a long time for traditional banks to convince their consumers to trust them with their money.