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

Beta Boom invests in software companies in health, fintech and future of work, with an average investment of $300,000. —Stephanie Dhue,chris Dilella,sharon Epperson, CNBC, 10 Dec. 2024

The rapid rise of tech—especially fintech platforms like Venmo, Stripe and other instant payment services—can present the illusion that cash will soon be obsolete. —Joe Arrage, Newsweek, 6 Dec. 2024

Bisignano serves as the CEO of fintech and payment processing company Fiserv. —Lauren Irwin, The Hill, 5 Dec. 2024

Mexican fintech Klar is moving beyond consumer banking by acquiring Tribal's SMB payment and financing tools, the companies tell Axios exclusively. —Ryan Lawler, Axios, 4 Dec. 2024

Word History

Etymology

short for financial technology

First Known Use

1971, in the meaning defined above