From “Accelerator” to “Zombie Firm”, the fintech industry has numerous terms that often confuse and scare away many people. If one is not involved with the industry, there are endless terms that create an intimidating barrier.
In an attempt to break down this barrier, the London Institute of Banking & Finance’s (LIBF) Centre for Digital Banking and Finance launched a fintech glossary. The glossary was created by a team of industry experts designed to provide a comprehensive reference for finance professionals, students, and anyone interred in fintech. This glossary aims to clarify the confusing and complex terminology used by the industry.
Fintech, short for financial technology, describes a broad spectrum of new technologies aimed at improving financial services and products for consumers and businesses. The industry is growing rapidly and covers numerous areas of banking and finance – which means it can be difficult for those working in the sector to keep their knowledge up to date.
LIBF’s new glossary offers a convenient reference for the key terms, technologies, and concepts associated with fintech. It features an extensive collection of definitions, covering things like blockchain, cryptocurrency, bitcoin, micropayment, and more. It is designed to be user-friendly and accessible, making it easy for anyone to navigate and find the information they need.
Helene Panzarino, associate director at LIBF’s Centre for Digital Banking & Finance, says, “We are excited to launch this extensive fintech glossary. As the fintech industry continues to evolve, it can be challenging to keep up with all the new terms and concepts that emerge. Therefore, it is essential to have a resource that can help professionals stay up to date on the latest terminology and concepts. Our glossary aims to provide a reliable, accessible source of information for anyone looking to deepen their understanding of fintech.”