fintech

noun
fin·​tech | \ ˈfin-ˌtek How to pronounce fintech (audio) \
plural fintechs

Definition of fintech

: 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 nounthe fintech sector… a leading fintech firm, a new breed of companies that offer loans through online platforms.— Hugo MartinFrom 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

First Known Use of fintech

1971, in the meaning defined above

History and Etymology for fintech

short for financial technology

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The first known use of fintech was in 1971

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Cite this Entry

“Fintech.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/fintech. Accessed 28 Oct. 2020.

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