Capterra Glossary
Fintech
Fintech (or financial technology) is the use of innovative technology within financial businesses and transactions. Ultimately, the goal of the Fintech industry is to make business finance simpler.
What Small and Midsize Businesses Need to Know About Fintech
Fintech is all about disrupting traditional banking. That means doing things differently through digital apps, new ways to transfer funds, and unique payment methods. Businesses that adopt fintech strategies and technologies are helping to future-proof their banking methods. Over half of SMBs already use some sort of fintech within their organization. Benefits include lower fees, more flexibility, and solutions that engage consumers.
Related Terms
- Compound Annual Growth Rate (CAGR)
- Financial Planning and Analysis (FP&A)
- Selling General and Administrative (SG&A) Expenses
- Hedge Fund
- Gateway
- Record to Report (R2R)
- ROIT (Return on Information Technology)
- Chief Revenue Officer (CRO)
- SAC (Subscriber Acquisition Cost)
- ROE (Return on Equity)
- Tokenization
- Net Present Value
- Financial Management System (FMS)
- Business Capability Modeling