Fintech enters the dictionary

Finally, after decades of usage, the word fintech has made its way into the Merriam-Webster dictionary.

The portmanteau of financial technology was one of 840 new entries recently added to the online dictionary.

Merriam-Webster defines fintech as “products and companies that employ newly developed digital and online technologies in the banking and financial services industries”.

The word is far from new: the dictionary pinpoints its first known use to 1971, while it has been gracing the pages of Finextra since the early 2000s.

However, in recent years the term has taken off thanks to a burgeoning fintech scene in places such as Silicon Valley and London and the rise of mobile banking, cryptocurrencies and the like.

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Source: Fintech enters the dictionary