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The term fintech (or FinTech, if you prefer the trendier iteration) is being redefined — literally. For as long as credit unions have relied upon computers, fintech — short for financial technology – has referred simply to the technology employed by the financial services industry. For example, your core data processor is a fintech company. Or at least it was.

Seemingly overnight, fintech has been redefined as technology companies that seek to displace or disrupt (another popular term), traditional financial services players by building a better mousetrap. In other words, whereas fintech used to refer to your technology partners, it now refers to your newest competitors.

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