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Definition: FinTech

(FINancial TECHnology) Applying technology to financial services. FinTech deals with all the banking, stock market and Wall Street-related services that are handled online via the Internet. The FinTech era really blossomed in the late 1990s as more people used computers at home and Internet access became faster.

FinTech and DeFi
FinTech enabled DeFi (decentralized finance), which emerged after the Ethereum blockchain was launched in 2015. The Weiss Crypto Daily defines the DeFi era as "FinTech on Steroids" (see DeFi and crypto glossary). See online banking and virtual bank.