The Definition and Evolution of FinTech

The term 'fintech' represents a broad intersection of finance and technology, yet it is often viewed as a label for newer companies aiming to disrupt traditional banking. Legacy financial institutions typically identify themselves simply as banks or lenders, focusing on their core functions. This evolving narrative suggests that while fintech is currently a buzzword, it may fade as technology becomes integral to all financial services. As the industry progresses, a seamless integration of technology within banking may redefine customer expectations and eliminate the need for a separate term.