Vocabulary

• Personal Finance – The management of an individual's or family's financial situation, with saving money, setting budget, understanding income and expenses, investing, and managing risk being the key focuses.
• Technology – The application of scientific knowledge for practical purposes, especially in industry.
• Fintech – The integration of technology into offerings by financial services companies in order to improve their use and delivery to consumers.
• Online Banking – A system allowing individuals to perform banking activities at home, via the internet.
• Mobile Banking – A service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device.
• Digital Wallet – A system that securely stores users' payment information and passwords for numerous payment methods and websites.
• Cryptocurrency – A type of digital or virtual currency that uses cryptography for security.
• Blockchain – A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
• Robo-Advisor – An automated platform that provides algorithm-driven financial planning services with little to no human supervision.
• Budgeting Apps – Applications designed to help individuals manage and track their finances.
• Peer-to-Peer Lending – The practice of lending money to individuals or businesses through online services that match lenders with borrowers.
• Crowdfunding – The practice of funding a project or venture by raising money from a large number of people, typically via the internet.
• Contactless Payments – A secure method for consumers to purchase products or services via debit, credit or smartcards (also known as NFC).
• Online Trading – The act of buying and selling financial products through an online trading platform.
• Financial Literacy – The ability to understand and use various financial skills, including personal financial management, budgeting and investing.
• Insurtech – The use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model.
• Financial Planning – A comprehensive evaluation of an individual's current and future financial state.
• E-commerce – Commercial transactions conducted electronically on the internet.
• Virtual Assistant – An application that understands natural language voice commands and completes tasks for the user.
• AI – Stands for artificial intelligence. In finance, AI can be used to predict market trends.
• Machine Learning – A method of data analysis that automates analytical model building.
• Big Data – Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations.
• Cybersecurity – Measures taken to protect a computer or computer system against unauthorized access or attack.
• Data Privacy – The aspect of information technology that deals with the ability an organization or individual has to determine what data in a computer system can be shared with third parties.
• Electronic Funds Transfer – The electronic transfer of money from one bank account to another.
• Digital Currency – A type of currency available only in digital form, not in physical form such as banknotes and coins.
• Algorithmic Trading – The process of using computers programmed to follow a defined set of instructions for placing a trade.
• Cloud Computing – The delivery of computing services over the internet.
• Mobile Payment – Money paid for a product or service through a portable electronic device such as a cellphone.
• Smart Contracts – Self-executing contracts with the terms of the agreement directly written into code.
• Internet of Things – The network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data.
• Automated Teller Machine – An electronic banking outlet that allows customers to complete basic transactions.
• Credit Score – A number assigned to a person that indicates to lenders their capacity to repay a loan.
• Identity Theft – The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.
• Biometrics – Body measurements and calculations related to human characteristics, used for identification and access control.
• E-banking – The use of electronic methods or means without cash or check transactions.
• E-wallet – An electronic device or online service that allows an individual to make electronic transactions.
• Virtual Banking – A method of banking via the internet. It offers the same services as your brick-and-mortar bank but doesn't have a physical presence.
• Paperless Statements – Electronic versions of your account statements that you can view, save and print whenever you wish.
• Information Security – The practice of preventing unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction of information.
• Two-Factor Authentication – A security process in which the user provides two different authentication factors to verify themselves.
• Digital Savings Tools – Online tools or apps that help you save money.
• Online Investment Platforms – Digital platforms that facilitate the buying and selling of investments.
• Machine Learning Algorithms – An application of artificial intelligence that provides systems the ability to automatically learn and improve from experience.
• Digital Transformation – The integration of digital technology into all areas of a business.
• API Banking – A system that enables a bank's customer or a third-party developer to integrate the bank's services onto their own application.
• QR Codes – A type of matrix barcode first designed in 1994 for the automotive industry in Japan.
• Financial Apps – Software programs that help you track your finances.
• Digital Identity – An online or networked identity adopted or claimed in cyberspace by an individual, organization or electronic device.
• Mobile Wallet – A virtual wallet that stores payment card information on a mobile device.