Technology influences almost every aspect of our lives, and we’ve been living with financial technological advancements in some form or another for well over a century. Yet fintech companies — and even the word itself — can be polarizing, with opinions ranging from “the wave of the future of finance” to “digital disruptors to the status quo.” New century, same fears.
The origins of financial technology — fintech — are a little less clearly defined than each half of its portmanteau. The first known usage of the word is thought to have been in 1971, well before it was considered its own industry. It is generally accepted that there are currently three ages of fintech: