fintech: meaning, definition, pronunciation and examples
C1Formal, Business, Technical, Journalistic
Quick answer
What does “fintech” mean?
A portmanteau of 'financial technology', referring to businesses that use technology to enhance or automate financial services and processes.
Audio
Pronunciation
Definition
Meaning and Definition
A portmanteau of 'financial technology', referring to businesses that use technology to enhance or automate financial services and processes.
The industry composed of companies that use software, algorithms, and digital platforms to provide financial services, often disrupting traditional banking and financial institutions. It encompasses areas like mobile payments, peer-to-peer lending, digital wealth management (robo-advisors), blockchain/cryptocurrency, and insurtech.
Dialectal Variation
British vs American Usage
Differences
Usage is largely identical. The UK, particularly London, is a major global hub, so the term is deeply embedded. US usage may more frequently specify 'fintech startup' or 'fintech firm'.
Connotations
In both regions, it connotes innovation, agility, and challenge to incumbent banks. In the UK/EU context, it is strongly associated with regulatory frameworks like 'Open Banking'.
Frequency
Very high frequency in business, finance, and technology contexts in both regions. Slightly higher relative frequency in UK media due to London's prominence as a fintech centre.
Grammar
How to Use “fintech” in a Sentence
The [NOUN] is a leader in the fintech sector.[VERB] like a fintech.The rise of fintech has [VERB PAST PARTICIPLE] traditional banking.They work for a [ADJECTIVE] fintech.Vocabulary
Collocations
Examples
Examples of “fintech” in a Sentence
verb
British English
- The company aims to fintech the entire mortgage process.
- (Note: This is a very new, non-standard usage, primarily in jargon.)
American English
- They're trying to fintech their way into the payments industry.
- (Note: This is a very new, non-standard usage, primarily in jargon.)
adverb
British English
- (Not standard; the concept is typically expressed adjectivally or with a phrase like 'using fintech').
American English
- (Not standard; the concept is typically expressed adjectivally or with a phrase like 'using fintech').
adjective
British English
- She took a fintech role at a startup.
- The fintech landscape in London is very competitive.
American English
- He's a fintech entrepreneur based in Silicon Valley.
- We attended a fintech conference in New York.
Usage
Meaning in Context
Business
The board is discussing a strategic investment in Asian fintech.
Academic
The paper analyses the regulatory challenges posed by the rapid growth of fintech.
Everyday
I use a fintech app on my phone to split bills with my friends.
Technical
The API integration allows the core banking system to connect with third-party fintech providers.
Vocabulary
Synonyms of “fintech”
Strong
Neutral
Weak
Vocabulary
Antonyms of “fintech”
Watch out
Common Mistakes When Using “fintech”
- Using it as an adjective for non-disruptive, traditional bank IT ('our bank's fintech department' is incorrect).
- Misspelling as 'fintech' or 'fin-tech' (the standard closed form is 'fintech').
- Using it as a verb ('to fintech something').
FAQ
Frequently Asked Questions
Yes, it is standard in business, finance, and technology journalism and academia. It originated as industry jargon but is now fully mainstream in these contexts.
Fintech refers to companies that start with a financial service and use technology to deliver it better (e.g., a digital bank). Techfin refers to large technology companies (like Google or Apple) that start with technology and platform strength and then move into financial services.
Yes, this is very common (e.g., fintech sector, fintech innovation, fintech startup). Its use as a verb is non-standard and jargonistic.
Yes, companies and projects built around cryptocurrencies, blockchain, and digital assets are a major subsector of the broader fintech industry.
A portmanteau of 'financial technology', referring to businesses that use technology to enhance or automate financial services and processes.
Fintech: in British English it is pronounced /ˈfɪn.tɛk/, and in American English it is pronounced /ˈfɪn.tɛk/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “to disrupt like a fintech”
- “the fintech revolution”
- “a fintech unicorn (a privately held startup valued at over $1 billion)”
Learning
Memory Aids
Mnemonic
Think of FINancial TECHnology squashed together: FIN + TECH = FINTECH. It's where finance meets your smartphone.
Conceptual Metaphor
Fintech is a DISRUPTOR/WAVE (challenging the old fortress of banking). Fintech is a TOOL/PLATFORM (enabling new financial actions).
Practice
Quiz
Which of the following is MOST characteristic of a fintech company?