The term 'fintech' refers to financial technology, which encompasses innovative services and products that improve and automate the delivery of financial services. Fintech applies technology solutions to enhance banking, payments, investing, lending, and insurance, making these processes more efficient and accessible. Companies in the fintech sector may use applications, software tools, and platforms designed to help consumers and businesses manage their finances better. The rise of fintech has the potential to disrupt traditional financial institutions and reshape consumer financial experiences.