fintech

American  

[fin-tek] / ˈfɪn tɛk /

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.

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Etymology

Origin of fintech

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

Example Sentences

Just last week, Oakland fintech Block, the parent of Cash App and payment services company Square, cut more than 4,000 workers citing AI.

From Los Angeles Times

The fintech company, which was founded in Australia in 2015, runs a financial platform that uses artificial intelligence to help businesses manage multicurrency accounts, process international payments, and run invoicing and expense systems.

From The Wall Street Journal

Yet “backwardation” in oil futures prices — a situation where current prices are higher than prices for contracts for future delivery — suggest “acute short-term supply stress, but not long-term shortage expectations,” Frank Walbaum, market analyst at fintech company Naga.com, which offers online trading.

From MarketWatch

“Escalating tensions in the Middle East and supply disruptions continue to propel energy prices upward, raising fears of inflationary pressures and keeping yields supported,” said Abdelaziz Albogdady, market research and fintech strategy manager at FXEM, in a note.

From The Wall Street Journal

Mercury, a fintech for startups and small businesses, spends most of its advertising budget on mainstream media like digital ads and billboards.

From The Wall Street Journal