fintech

noun

fin·​tech ˈfin-ˌtek 

plural fintechs

: products and companies that employ newly developed digital and online technologies in the banking and financial services industries

The impact that fintech is making throughout our economy is still in its infancy stages. Fintech is really just about innovating and bringing solutions to the banking, lending and capital markets.

—Jason Raznick

—often used before another noun

the fintech sector

… a leading fintech firm, a new breed of companies that offer loans through online platforms.

—Hugo Martin

From payments to wealth management, from peer-to-peer lending to crowdfunding, a new generation of startups is taking aim at the heart of the industry … . Like other disrupters from Silicon Valley, "fintech" firms are growing fast.

—The Economist

also : a business that uses or creates such technologies

Traditional banks are eager to court fintechs as clients, partners or vendors—often in all three roles at once.

—Mark Calvey

Examples of fintech in a Sentence

Recent Examples on the Web

The company continues to focus on expanding its digital fintech ecosystem and entering new business areas, including telecommunications and media in Kazakhstan. —Quartz Bot, Quartz, 8 Nov. 2024

The topic has become an important battleground between big banks and fintechs like Plaid that connect consumers’ bank accounts to fintech apps. —Jeff Kauflin, Forbes, 5 Nov. 2024

My explanation is this: Kaspi has always evolved as a fintech company, while traditional banks tried to bolt fintech onto their existing banking models. —Murat Abdrakhmanov, Forbes, 4 Nov. 2024

If Harris is elected, Chopra may get to lead another agency, the second fintech exec said. —Luisa Beltran, Fortune, 4 Nov. 2024

Word History

Etymology

short for financial technology

First Known Use

1971, in the meaning defined above