Pronunciations
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/ˈfɪntɛk/
Noun
Financial technology, that is, technology (usually information technology) that is focused on finance.
Usage- Uncountable
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A wave of financial-technology (or “fin-tech”) firms, many of them just a few years old, are changing the ways in which people borrow and save, pay for things, buy foreign exchange and send money.
2016, Laura Sanicola, Will fintech help or hurt traditional advisors?, CNBC Financial technology, commonly known as fintech, has exploded globally since 2008.
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2016, Martin Wolf, Good news — fintech could disrupt finance, Financial Times Why might one hope that new financial technology, or “Fintech” as it is known, will transform these businesses?
Fintech was every banker’s buzzword at the World Economic Forum.
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2016, Frank Sorrentino, For Fintech Disruptors, Regulatory Freedom Will Be Fleeting, Forbes Lacking their size, scope, geography, capital or insurance; fintech companies have established themselves as free, to an extent, from the regulatory scrutiny that governs traditional financial institutions.
A company in the finance sector, such as one dealing with payments, fundraising or loans.
Usage- Countable
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Nubank is a fintech that was founded in 2013 and entered the Brazilian market to compete with traditional financial services providers.
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Lines are often blurred when it comes to determining when a tech company becomes a FinTech. PayPal is an example of a FinTech that has been around since the late 90s, as have many other e-wallets and Payment Service Providers.