Disclaimer: This glossary provides general information and definitions of financial technology (FinTech) terms. It is not intended to be legal advice or regulatory guidance.
Artificial Intelligence (AI)
The capability of a computer to perform tasks that normally require human intelligence.
Big Data
A large data set with increasing volume, variety, and velocity, which is too large or complex to be dealt with by traditional data-processing application software.
Bitcoin
A decentralized digital asset that allows for peer-to-peer transactions on the Bitcoin blockchain.
Blockchain
A distributed database that maintains a continuously growing list of records, called blocks.
Decentralized Finance (DeFi)
Peer-to-peer financial services and applications on public blockchains.
Distributed Ledger
A distributed database that is shared and synchronized across a network of computers in different locations.
Environmental, Social and Governance (ESG)
A set of aspects, including environmental issues, social issues and corporate governance that can be considered in investing.
Ether
A native cryptocurrency of the Ethereum blockchain.
Ethereum
A decentralized blockchain with smart contract functionality.
Financial Technology (FinTech)
Technological innovation in the design and delivery of financial services and products.
Insurance Technology (InsurTech)
A technology that is designed to drive innovation in the insurance industry and increase the efficiency of insurance companies.
Internet of Things (IoT)
A network of interrelated devices that can collect and share data with other devices and systems over the Internet or other communications networks.
Machine Learning
A system that observes and analyzes patterns in data and learns how to perform a task without being explicitly programmed to do so.
Non-Fungible Token (NFT)
A unique cryptographic token that exists on a blockchain and cannot be replicated.
Regulatory Technology (RegTech)
A technology that is designed to enhance regulatory and compliance processes.
Robo Advisor
An automated online platform that uses algorithms to provide financial advice and investment management services, with minimal human involvement.
Smart Contract
A digital contract stored on a blockchain that is automatically executed when predetermined terms and conditions are met.
Stablecoin
A type of virtual currency where the value of the digital asset is pegged to another asset, such as a fiat currency.
Virtual Currency
A digital representation of value that is used as a medium of exchange, unit of account, or store of value, but does not have legal tender status as recognized by the United States government.