Know your FinTech buzzwords

publicly available application programming interface that allows two pieces of software to communicate with one another

a branch of computer science that is involved in creating smart machines with human intelligence. The term may also refer to any machine that demonstrates human abilities like problem-solving and learning.

one of the most popular cryptocurrencies, invented in 2008. It uses peer-to-peer technology and doesn’t require a centralised bank.

a method of data analysis that is directed at making computers act without being explicitly programmed. It is a part of Artificial Intelligence (AI).

a version of a product that has basic features which make it usable. It is created in order to get feedback that is helpful in further development.

an online payment system that supports online money transfers and works in many countries around the world

the process of identifying and verifying clients and assessing risks when providing financial services

innovation due to technological progress that creates a new market or changes the existing one with its value

a financial service that offers the possibility to trade stocks and exchange funds via a mobile app

digital currency that is used to make transactions, and pay for goods and services. Due to its security, it’s almost impossible to counterfeit.

the process of transferring money from one person's bank account to another person’s bank account via the internet, using a mobile phone or computer

an easy and secure way for users to verify their bank account details using online banking credentials

a network of physical objects with sensors, software and other technologies that allow them to connect with each other over the internet

a database of records of transactions that is maintained by a network of computers rather than a central authority

technology that enables communication between compatible devices without touching. It is used to make secure transactions or exchange data.

a term that describes a huge volume of structured and unstructured data that organisations use for decision-making and strategic planning

an outdated method, technology or system that is still being used

an American public benefit corporation that maintains a crowdfunding platform. Their main focus is helping creative projects get funding.

short for ‘financial technology’ and includes a range of products, technologies and business models that are changing the financial services industry.

information technology that is used to improve the regulatory processes within the financial services industry

automated financial planning services which are available 24/7 and are more affordable than traditional asset managers.