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

PayPal, the owner of Venmo, has struggled this year in what has been a mixed bag for fintech stocks.

Read more on Barron's

The 33-year-old fintech entrepreneur last month was sentenced to seven years in prison for swindling JPMorganChase, which purchased her student financial-aid startup in 2021 for $175 million.

Read more on The Wall Street Journal

Although these are two different legacy financial institutions partnering with two different fintech companies, both announcements referenced one thing: tokenization.

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The Amsterdam-based fintech firm Adyen for years only reported financial results twice annually.

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Over the long term, it plans to acquire fintech and insurance companies and move them to the Avalanche network.

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