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

Venture funding to late-stage fintechs picked up in the second quarter, as did money going to crypto startups, according to the latest State of Fintech report from CB Insights. —Ryan Lawler, Axios, 17 July 2024

In particular, the organization sees promise in AI’s role in fintech and health care, two areas where the state is already strong. —Scott Cohn, CNBC, 12 July 2024

Think fintech giants Revolut and Wise, public transit app Citymapper and food delivery mainstay Deliveroo. —Byprarthana Prakash, Fortune Europe, 10 July 2024

Consider Toast, a leader in fintech that has achieved growth consistency by creating payment solutions specifically for restaurants. —Paul Blase paul Leinwand, Harvard Business Review, 17 Apr. 2024

Word History

Etymology

short for financial technology

First Known Use

1971, in the meaning defined above