fintech

[fin-tek]

noun

1. digital technological innovations utilized by customers or institutions in the financial services industry (often used attributively).

   Fintech makes it easy to save and invest money with your mobile device.

   With a population of more than a billion, India is a hotbed for fintech products.

2. a company that uses or develops digital technological innovations in the financial services industry (often used attributively).

   Fintechs are offering solutions for customers unable to get loans from a traditional bank.

   There's a fintech startup that enables consumers to shop online without using a credit card.

Word History and Origins

Origin of fintech¹

First recorded in 2010–15; fin(ancial) ( def. ) + tech(nology) ( def. )

Example Sentences

Reeves was speaking at the opening of fintech giant Revolut's new global headquarters in Canary Wharf, where the firm said it would invest £3bn in the UK and create 1,000 new jobs.

From BBC

"Regulators are finally catching up with how people actually pay," says Hannah Fitzsimons, chief executive at fintech company Cashflow.

From BBC

The Bank of America facility in Belfast "will house cutting-edge anti-money laundering systems and cyber security operations", and is expected to create "high-skilled jobs in Northern Ireland's growing fintech sector", a DBT spokesperson told BBC News NI.

From BBC

Other companies such as Oakland fintech company Block, which slashed 8% of its workforce in March, told employees that the cuts were strategic not because they’re “replacing folks with AI.”

From Los Angeles Times

Since then, that Facebook page she opened in Denmark evolved into a non-profit, then a global fintech company called Female Invest with $24 million in venture capital raised to date, including some from U.S. investors like Y Combinator and Green Visor Venture Capital.

From Salon