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

Investors had dumped high-flying fintech companies in 2022 as a wave of unprofitable firms like Dave went public via special purpose acquisition companies. —Hugh Son, CNBC, 20 Dec. 2024

The fintech company is owned by seven U.S. banks, including Bank of America, Wells Fargo and JPMorgan Chase. —Gord Magill, Newsweek, 20 Dec. 2024

Even today, advances in fintech (especially banking), education, manufacturing, and logistics are hard to miss. —Hilary Tetenbaum, The Arizona Republic, 18 Dec. 2024

According to a Bloomberg report published last week, Antivari owed millions in an unpaid debt to his former business partner, the Italian fintech tycoon Andrea Pignataro. —George Nelson For Artnews, Robb Report, 17 Dec. 2024

Word History

Etymology

short for financial technology

First Known Use

1971, in the meaning defined above