Fintech is the shorthand for financial technology. Fintech is the term used to refer to the innovation crossover of the technology sector and financial services.

Fintech is a relatively new industry that uses technology to improve various financial activities–banking, payments, lending and investing.

Any company that uses technology to improve or enhance financial services can be considered fintech.

Companies such as Venmo, Robinhood, SoFi, and the like are called fintech companies.