Discover the terms that change the financial technology industry.
Financial institutions are government-regulated organizations that specialize in the accumulation of capital and the provision of financial services to economic agents, from individuals to corporations. These companies usually act as intermediaries that facilitate the processing of transactions, investments, loans and deposits. Financial institutions can be classified depending on their capital ownership (public, private or mixed banks), the services they provide (savings, mortgages, commerce) and the nationality of their capital (national or foreign).
Financial Technology (Fintech)
Financial services that are composed of and delivered through digital technologies. Fintech also refers to the category of companies (usually startups) developing technologies to displace traditional financial services, or to companies that partner with mainstream service providers, or to technology initiatives launched by established financial service providers themselves.
A framework, or software framework, is a platform for developing software applications. It provides a foundation on which developers can build programs in any given language for a specific platform. A framework could include code libraries, a compiler, and other programs used in the software development process. A framework is especially created to help boost the performance and efficiency of the development process.