FinTech is the use of technological advances such as access to mobiles and the internet, cloud computing and artificial intelligence to offer a range of financial services online or via mobile phones. These services include digital payments (such as mobile money) and savings products, InsurTech and WealthTech (such as robo-advisors), digital lending through digital marketplaces, capital raising through crowdfunding, and market provisioning services such as digital identities and alternative credit scoring (Cambridge Centre for Alternative Finance (CCAF) et al., 2020).
Source: wiktionary