Financial Technology

Financial technology is the systems layer underneath modern finance: banking channels, payment rails, card acceptance, market-data terminals, trading platforms, machine-readable reporting, and compliance automation.

Use this section when technology changes how money moves, how financial data is transmitted, how markets are accessed, or how professionals operate in banking, payments, reporting, and trading.

Payments Rails and Money Movement covers EFT networks, recurring bill pay, mobile money, and national payment interfaces. Cards, Wallets, and Point of Sale covers card authentication, wallets, POS terminals, ATMs, cheque capture, and stored-value systems.

Digital Banking, Open Finance, and Automation covers APIs, open banking, digital advice, and fintech automation. Market Data, Trading, and Reporting Systems covers terminals, ECNs, market-data protocols, and machine-readable reporting standards.

Digital-asset investing terms live under Digital Assets when the main question is crypto market exposure, token issuance, custody, or on-chain finance. Use Financial Technology when the emphasis is the operating system underneath finance rather than the investment exposure itself.

In this section

• Cards, Wallets, and Point-of-Sale Technology
  Payment-technology terms for cards, digital wallets, point-of-sale terminals, payment processors, ATMs, and cheque imaging.
  • Banking Machines, Cheque Capture, And MICR
    Banking terms for ATMs, MICR, remote deposit capture, and substitute cheque processing.
    • Automated Teller Machine: Revolutionizing Banking Transactions
      An Automated Teller Machine (ATM) is a computerized device enabling customers to perform banking transactions such as cash withdrawals, deposits, transfers, and balance inquiries at any hour.
    • MICR: Magnetic Ink Character Recognition
      A process in which ferromagnetic ink is used on cheques and other documents to enable automatic sorting and character recognition by computers.
    • Remote Deposit Capture (RDC): Revolutionizing Bank Deposits
      A comprehensive guide to Remote Deposit Capture (RDC), a technology allowing check deposits from remote locations using a scanner or mobile device.
    • Substitute Cheque: An Integral Component of Modern Banking
      A Substitute Cheque, also known as an Image Replacement Document (IRD), is a paper copy of an original cheque that is created digitally as part of the cheque truncation process.
  • Card Authentication And Chip Technology
    Banking terms for PINs, chip cards, EMV, magnetic stripes, smart cards, NFC, and card security technology.
    • Chip and PIN: A Revolutionary Security System for Card Payments
      Chip and PIN is a security protocol for card payments involving a microchip embedded in the card and a personal identification number (PIN) to authenticate transactions.
    • EMV Technology: The Global Standard for Chip Card Payments
      An in-depth look into EMV Technology, which stands for Europay, MasterCard, and Visa, and its significance in the realm of chip card payments.
    • Magnetic Stripe Card: Traditional Card Technology with a Magnetic Stripe
      An exploration of magnetic stripe cards, including historical context, types, key events, detailed explanations, security concerns, and more.
    • Multifunctional Card: Versatile Banking Tool
      A comprehensive overview of multifunctional cards, detailing their functions, history, types, and importance in modern banking.
    • NFC: Near Field Communication
      Near Field Communication (NFC) is a wireless technology allowing for data exchange over short distances, typically a few centimeters. It is widely used in contactless payments, access control, and information sharing.
    • Personal Identification Number: Secure Personal Authentication
      A Personal Identification Number (PIN) is a unique code used for secure authentication in financial and electronic transactions.
    • Smart Card: A Technological Marvel in Financial Transactions and Beyond
      A comprehensive overview of smart cards, their history, types, applications, and impact on various industries, including finance, healthcare, and more.
  • Point-Of-Sale Processing And Terminals
    Banking terms for point-of-sale devices, payment gateways, payment processors, credit card processing, and manual card imprinters.
    • Credit Card Processing: Enabling Payment Transactions
      An in-depth exploration of credit card processing, including its definition, types, special considerations, examples, historical context, applicability, comparisons, related terms, FAQs, and references.
    • Knuckle-Buster: Manual Credit Card Imprint Device Nickname
      A detailed exploration of the 'Knuckle-Buster,' its historical context, functionality, and role in the evolution of credit card transactions.
    • mPOS: Mobile Point of Sale
      A comprehensive guide on Mobile Point of Sale (mPOS), its types, functionality, historical context, importance, and more.
    • Payment Gateway: Facilitating Secure Transactions
      An in-depth look at Payment Gateways, vital services that authorize and process credit card and direct payments for online and offline transactions.
    • Payment Processor: An Integral Part of Modern Commerce
      A payment processor is a company that handles transactions between businesses and financial institutions, ensuring the smooth flow of payment information and funds.
    • Point of Sale: The Crucial Junction for Consumer Transactions
      Understanding the Point of Sale (POS), its historical context, various types, key events, detailed explanations, importance, applicability, and more.
    • POS Terminal: Device for Processing Transactions
      Comprehensive coverage of POS Terminals, including their history, types, importance, and applications.
  • Wallets, Mobile Payments, And Stored Value
    Banking terms for digital wallets, mobile payments, contactless payments, crypto cards, and stored-value card products.
    • Contactless Payment: A Revolutionary Payment Method
      An in-depth look into contactless payments, utilizing near field communication (NFC) technology for quick and secure transactions.
    • Cryptocurrency Cards: Bridging Digital Currencies and Everyday Transactions
      An in-depth look at Cryptocurrency Cards, their historical context, functionality, types, importance, applications, and considerations for users.
    • Digital Wallet: Secure Payment and Information Storage Solutions
      A digital wallet is an application on an electronic device that stores payment information and allows you to make purchases securely without carrying cash or cards. Learn about its types, uses, and benefits.
    • Mobile Payments: Payments Made Using Mobile Devices
      Explore the concept of mobile payments, their history, types, key events, mathematical models, and much more in this comprehensive article.
    • Mobile Wallet: Definition, Types, and Uses
      Comprehensive guide on mobile wallets: their definition, types, uses, and security measures. Explore how mobile wallets transform the way we handle transactions and manage finances.
    • Stored Value Cards: An Overview of Their Function and Application
      Stored Value Cards are prepaid cards that hold a certain monetary value which can be used for transactions in various settings.
• Digital Banking, Open Finance, and Automation
  Fintech terms for online banking, open-banking APIs, account aggregation, automated advice, and software-driven financial services.
  • Digital Banking, Open Banking, And APIs
    Banking terms for digital banking, open banking, APIs, aggregators, banking channels, mobile banking, and telephone banking.
    • Aggregator: Centralized Financial Management
      A firm that collates and presents information about an individual's bank accounts, investments, insurance policies, etc., allowing for unified financial management through a single website.
    • API: Finance-Relevant Meanings in Open Banking, Payments, and Energy Markets
      A focused glossary entry for API as it appears in finance, covering application programming interfaces in fintech and the American Petroleum Institute context used in energy markets.
    • Banking Channels: Various Methods of Delivering Banking Services
      Explore the diverse methods through which banking services are delivered, including branches, ATMs, and digital platforms, among others.
    • Digital Banking: The Future of Banking
      Digital Banking allows customers to perform transactions and access banking services online, offering convenience and accessibility. This article explores its history, categories, key events, models, and more.
    • Mobile Banking: Definition and Comprehensive Overview
      Understanding mobile banking, its types, advantages, historical context, and impact on personal and international financial transactions.
    • Open Banking: Comprehensive Definition, Mechanisms, and Associated Risks
      A detailed exploration of Open Banking, covering its definition, operational mechanisms through APIs, potential benefits, and associated risks.
    • Telephone Banking: Convenience at Your Fingertips
      Explore the evolution, mechanics, and implications of telephone banking, a home-banking facility enabling customers to use banking services via a telephone link.
  • Fintech Automation And Digital Advice
    Banking terms for fintech, financial automation, robo-advice, micro-investing platforms, and peer-to-peer finance models.
    • Financial Automation: Revolutionizing Financial Tasks Through Technology
      Financial Automation involves the use of advanced tools, platforms, and algorithms to automate repetitive and manual financial tasks, reducing human error, increasing efficiency, and optimizing financial decision-making processes.
    • FinTech: Financial Technology That Automates and Improves Financial Services
      A detailed exploration of FinTech, which encompasses the integration and utilization of technology to enhance and streamline financial services.
    • Micro-Investing Platforms: Definition, Functionality, and Benefits
      A comprehensive guide on micro-investing platforms, detailing their definition, functionality, and advantages for users. Learn everything you need to know about how these platforms work and why they are transforming the way people save and invest.
    • Peer-to-Peer: Direct Exchanges between Individuals without Intermediaries
      An exploration of Peer-to-Peer (P2P) networks and systems, highlighting their historical context, key types, significance, applications, and more.
    • Robo-Adviser: Automated Financial Advisory
      An automated platform that provides financial advice with minimal human intervention, leveraging algorithms and software to offer investment guidance and portfolio management.
• Digital Money and Ledger Technology
  Financial-technology terms for digital money, virtual currency, electronic money, and distributed-ledger infrastructure.
  • Cashless Economy: Overview and Implications
    An in-depth analysis of a Cashless Economy, including historical context, types of electronic transactions, key events, advantages and disadvantages, and its impact on various sectors.
  • Digital Currency: Types, Characteristics, Pros, Cons, and Future Uses
    A comprehensive guide on digital currency covering its types, characteristics, pros, cons, and potential future applications.
  • Digital Money: Definition, Mechanism, Types, and Real-World Examples
    An in-depth exploration of digital money, including its definition, mechanisms of operation, various types, practical examples, historical context, and its role in the modern economy.
  • Distributed Ledger Technology (DLT): Comprehensive Definition and Mechanism
    A detailed exploration of Distributed Ledger Technology (DLT), its definition, working principles, applications, and advantages.
  • Virtual Currency: Definition, Types, Advantages, and Disadvantages
    An in-depth analysis of virtual currency, including its definition, types, advantages, disadvantages, and more.
• Financial Information Services
  Market-data, research, and compliance platforms used across finance.
  • Bloomberg Terminal: Comprehensive Financial Data and Analytics Platform
    The Bloomberg Terminal is a sophisticated software system offering extensive financial data, analytics, and tools used by finance professionals worldwide.
  • Bloomberg: Comprehensive Overview, History, and Financial Insights
    An in-depth look at Bloomberg, a global provider of financial news, real-time and historical price data, financial analytics, trading news, and expert analyst coverage.
  • MERGENT, INC.: Global Business and Financial Information Provider
    Mergent, Inc. provides comprehensive business and financial information on publicly traded companies and fixed-income securities. Key products include Mergent Online, Mergent BondSource, and the Dividend Achiever Index series.
  • Morningstar
    Investment research, fund ratings, and data services used by investors and advisors.
  • S&P Capital IQ: Definition, Products, and Services
    Comprehensive overview of S&P Capital IQ, including its definition, key products, and services, as well as its role within S&P Global.
  • Thomson Reuters Checkpoint: Comprehensive Research and Compliance Solutions
    Thomson Reuters Checkpoint offers advanced tax and accounting solutions, focusing on research, compliance, and best practices for professionals.
  • Thomson Reuters Eikon: Financial Data and Analysis Tools
    Thomson Reuters Eikon is a comprehensive suite of tools providing financial data, news, analysis, trading, and collaboration capabilities for financial professionals.
  • Thomson Reuters: Pioneers in Information Services
    Thomson Reuters, established in 2008, is a worldwide provider of critical information to businesses and professionals. This entry explores the company's history, divisions, and major brands.
  • Wolters Kluwer: Comprehensive Overview of the Information Services Giant
    Wolters Kluwer is an information services company renowned for its ownership of CCH and extensive technological capabilities. Explore its history, significance, key events, and more.
• Market Data, Trading, and Reporting Systems
  Finance-technology terms for market-data feeds, trading platforms, electronic markets, reporting standards, and data terminals.
  • Electronic Trading Platforms And ECNs
    Market-structure terms for computerized trading, ECNs, Globex, trading platforms, terminals, and automated quotation systems.
    • Computerized Trading: The Digital Revolution in Financial Markets
      Comprehensive analysis of computerized trading, its history, types, key events, algorithms, charts, and its importance in modern financial markets.
    • Electronic Communication Network (ECN): Definition, Functionality, and Examples
      Delve into the workings of Electronic Communication Networks (ECNs), exploring their definition, functionality, various types, historical context, and practical examples.
    • Globex Trading Platform: Functionality, History, and Impact
      A comprehensive overview of the Globex trading platform, including its functionality, origins, and influence on the derivatives, futures, and commodities markets since its introduction in 1992.
    • Stock Exchange Automated Quotation System: Overview and Significance
      An in-depth look at the Stock Exchange Automated Quotation System (SEAQ), its historical context, significance in trading, functionality, and related concepts.
    • Terminal: A Computer System for Market Data and Trading Platforms
      A terminal is a specialized computer system used by traders and analysts to access real-time market data and execute trades through trading platforms.
    • Trading Platform: Definition, Examples, and Key Features
      A comprehensive guide to understanding trading platforms, their functionality, examples, key features, and their importance in the financial markets.
  • Market Data Protocols And Reporting Standards
    Market-structure terms for FIX, high-speed feeds, real-time information, real-time reporting, and XBRL.
    • Financial Information eXchange (FIX): Protocol, Definition, and Usage
      A comprehensive guide to understanding the Financial Information eXchange (FIX) protocol, its application in securities transactions, and its significance for users in the financial industry.
    • High-Speed Data Feed: Definition, Mechanism, and Applications
      A comprehensive overview of high-speed data feeds, including their definition, mechanism of operation, and practical applications in high-frequency trading and other industries.
    • Real-Time Information: Understanding Its Importance Compared to Delayed Data
      A comprehensive examination of real-time information, its significance, how it compares to delayed data, and its applications across various domains.
    • Real-time Reporting: Immediate Coverage Without Delay
      An in-depth exploration of real-time reporting, its historical context, types, key events, detailed explanations, and significance in various fields such as finance, technology, and media.
    • XBRL: Extensible Business Reporting Language
      A comprehensive exploration of XBRL, its history, types, key events, formulas, importance, examples, considerations, related terms, comparisons, facts, inspirational stories, quotes, jargon, FAQs, references, and summary.
• Payments Rails and Money Movement
  Electronic-payment terms for funds transfers, billing networks, payment messages, settlement workflows, and real-time money movement.
  • Digital Bill Pay And Recurring Payments
    Banking terms for auto-pay, biller-direct payment, digital payments, electronic bill presentment, recurring billing, and online payment systems.
    • Auto-Pay: Automated Payments Setup by Customers
      Auto-Pay, or automated payments, enable customers to set up recurring financial transactions, ensuring timely payments without manual intervention.
    • Biller-Direct Payments: Streamlined Electronic Billing
      Biller-direct payments refer to an electronic billing method where customers pay their bills directly through the biller's website or app.
    • Digital Payments: Electronic Methods of Handling Transactions
      Understanding Digital Payments: Transactions made electronically via various digital platforms without physical cash involvement.
    • Electronic Bill Payment & Presentment (EBPP): Definition, Types, Benefits, and Best Practices
      Explore the complete guide to Electronic Bill Payment & Presentment (EBPP), including its definition, various types, key benefits, and best practices for implementation.
    • PayPal: A Leading Online Payment System
      A comprehensive guide to understanding PayPal, its history, features, importance, and more.
    • Recurring Billing: Definition, Types, Examples, and Best Practices
      Comprehensive guide on recurring billing, covering its definition, various types, practical examples, benefits, challenges, and best practices for implementation.
  • Electronic Funds Transfer And Clearing Networks
    Banking terms for EFT, EPN, Nacha, SWIFT, ISO 20022, interbank networks, and electronic settlement.
    • EFT: Electronic Funds Transfer
      Electronic Funds Transfer (EFT) encompasses various forms of electronic money transfers, streamlining financial transactions across different platforms.
    • Electronic Funds Transfer at Point of Sale (EFTPOS): Comprehensive Overview
      An in-depth look at Electronic Funds Transfer at Point of Sale (EFTPOS) systems, including historical context, key features, mathematical models, applicability, related terms, and more.
    • Electronic Payments Network (EPN): Overview and Operational Mechanics
      An in-depth explanation of the Electronic Payments Network (EPN), its functions, processing mechanisms, and its role in automated clearing house transactions in the United States.
    • Electronic Settlement: The Digital Finalization of Securities Transactions
      The process of finalizing securities transactions electronically, as opposed to physical delivery of share certificates.
    • Interbank Network for Electronic Transfer (INET): A Comprehensive Overview
      Detailed exploration of the Interbank Network for Electronic Transfer (INET) and its role in processing credit and debit card transactions between financial institutions (FIs).
    • ISO 20022: A Global Standard for Electronic Data Interchange Between Financial Institutions
      Comprehensive overview of ISO 20022, a global standard for electronic data interchange between financial institutions, including history, types, applications, and more.
    • Nacha: Significance, Historical Evolution, and Faster Payments
      Detailed Insight into Nacha’s Role in Electronic Transactions, Its Historical Background, and Contributions to Faster Payments
    • Straight-Through Processing (STP): Definition, Benefits, and Applications
      Straight-through processing (STP) is an automated electronic payment process used by corporations and banks to streamline transactions. This comprehensive guide covers its definition, benefits, applications, and more.
    • SWIFT: Society for Worldwide Interbank Financial Telecommunication
      SWIFT is an international messaging network facilitating secure financial communication between banks and financial institutions.
  • Mobile Money And National Payment Interfaces
    Banking terms for mobile money systems and country-scale payment interfaces such as M-Pesa, Paga, and UPI.
    • M-Pesa: Definition, How the Service Works, and Real-World Applications
      An in-depth exploration of M-Pesa, a mobile banking service enabling users to store and transfer money via their mobile phones. Understand the definition, operational framework, and practical examples of M-Pesa in use.
    • Paga: Comprehensive Guide to Mobile Payment Solutions
      Discover what Paga is, how it operates, its requirements, and its impact on mobile payments.
    • Unified Payments Interface (UPI): Definition, Functionality, and Benefits
      A comprehensive overview of the Unified Payments Interface (UPI), a revolutionary smartphone application that facilitates seamless money transfers between bank accounts.
• RegTech, Reporting, and Deal Technology
  Finance-technology terms for compliance automation, audit trails, reporting workflows, and secure transaction-document platforms.
  • Audit Trail: Comprehensive Overview and Importance
    An in-depth exploration of audit trails, their significance in auditing processes, and how they enhance organizational transparency and accountability.
  • RegTech: Definition, Users, Benefits, and Leading Companies
    A comprehensive overview of RegTech, covering its definition, key users, benefits, challenges, and examples of leading companies in the industry.
  • Virtual Data Room (VDR): Definition, Applications, Security Features, and Alternatives
    A comprehensive guide to Virtual Data Rooms (VDRs), covering their definition, applications, security features, and available alternatives in the context of mergers and acquisitions.