Financial Technology (Fintech)

Financial advisors and banks combine information about their clients to be able to easily get a clear picture of that client’s finances. In addition, it adds an extra layer of protection for the client. Consultants and planners hit a wall when their clients don’t give them full access, and they claim it doesn’t give...

• Algorithmic trading is the use of algorithms based on processes and rules to apply trading strategies.

• The Application Programming Interface (API) establishes an online connection between the data provider and the end user.

• The black box model takes input and produces output, but its operation is unknown.

• Websites bill advertisers based on CPC, which is an online advertising revenue model.

• A data warehouse is a store of information over time by a business or other organization.

• Dematerialization (DEMAT) is the transition from physical certificates to electronic accounting.

• An eavesdropping attack is the theft of information from a smartphone or other device while the user is sending or receiving data over the network.

• The Electronic Payments Network is a financial clearing house that processes electronic funds transfers for the private sector.

• Geolocation refers to the use of location technologies such as GPS or IP addresses to identify and track the location of connected electronic devices.

• The term graphics processing unit (GPU) refers to a chip or electronic circuit capable of rendering graphics for display on an electronic device.

• A hierarchical deterministic wallet is a digital wallet commonly used to store the keys of cryptocurrency holders such as Bitcoin and Ethereum.

• HFT is a complex algorithmic trading in which a large number of orders are executed in seconds.

• High-speed data streams are ultra-low latency data connections that provide real-time information and execution for algorithmic and high-frequency traders.

• In-app purchase means an in-app purchase of goods and services on a mobile device such as a smartphone or tablet.

• Insurtech is the use of technological innovations designed to make the current insurance model more efficient.

• Knowledge engineering is a field of artificial intelligence (AI) that develops rules applied to data to mimic the thought process of a person who is an expert in a particular field.

• Material requirements planning (MRP) is the earliest computerized inventory management system.

• By making investing simple and painless, micro-investing platforms can help people who would not otherwise save for future investments.

• Mobile commerce refers to business or purchases made using mobile devices such as cell phones or tablets.

• Moore’s Law states that the number of transistors on a microchip doubles approximately every two years, even though the cost of computers is halved.

• Nacha operates one of the main networks that carries out electronic financial transactions between banks and payment service providers.

• Natural Language Processing (NLP) uses computer algorithms and artificial intelligence to enable computers to recognize and respond to human communication.

• Near Field Communication (NFC) is a short-range wireless communication technology that allows NFC-enabled devices to communicate with each other.

• Neural networks are a set of algorithms that mimic the work of the brain of animals to recognize the relationships between huge amounts of data. “Thus, they tend to resemble the connections of neurons and synapses in the brain.