Financial Technology & Automated Investing
From online brokerages increasing the ease of trading to mobile banking lowering the barriers for consumers to have access to the banking system, fintech has brought many advantages for consumers.
Guide to Financial Technology
What is Fintech?
Fintech is a portmanteau of the words “financial” and “technology,” and refers to technologies used in the financial sector of the economy. This includes things such as online banking apps, online stock brokerages, and mobile payment apps.Learn More: Financial Technology Definition
What is Moore's Law?
Moore’s law is a name given to a prediction by Intel co-founder Gordon Moore that the number of transistors that could be put on a computer chip would roughly double every 2 years. This trend held true for several decades after it was made in the 1960’s, and the exponential increase in transistor density has continued, albeit, not at the same rate.Learn More: Moore's Law Definition
What is Quantum Computing?
Quantum computing is a field of computing that uses the principles of quantum mechanics to change the way computers store and process information. Specifically, instead of data being stored as bits, which are individual units of binary code, they would be stored as Qubits (a portmanteau of “quantum” and “bits”). Qubits would be able to be in a quantum superposition of being both 0 or 1, which would allow significantly great processing capability.Learn More: Quantum Computing Definition
What is Open Banking?
Open banking, is a practice that involves the sharing of financial data between financial service providers through the use of application programming interfaces (APIs). This practice could potentially open up new options to consumers and/or significantly compromise individuals' data security and privacy.Learn More: Open Banking Definition
Cost Per Click (CPC)
Cost per click (CPC) is a model that some websites use to bill advertisers who advertise on their sites. It charges advertisers a certain amount, the aforementioned CPC, per time a visitor to the website clicks on the ad displayed there. Some sites use a different model which charges advertisers per certain number of people, usually 1000, who see an ad. That model is called “cost per mile.”
Mobile commerce, also known as m-commerce, is the use of smartphones, cell phones, and similar mobile devices to make commercial transactions. This can include purchasing items or paying bills.
Insurtech is a portmanteau of “insurance” and “technology,” and refers to the technology used by the insurance industry. Examples include mobile apps through which people can purchase insurance.
A quick response (QR) code is a kind of barcode that can be read easily by a computer. It stores information in a square-shaped grid, rather than a series of lines like a conventional barcode.
Material Requirements Planning (MRP)
Material requirements planning (MRP) is an inventory management system that uses software to keep track of and manage a business’s inventory and supply chain. It requires significant initial costs and high-quality data, but can increase supply chain efficiency if those requirements are met.
Mobile banking is when banking services are used via mobile devices such as smartphones.
Graphics Processing Unit (GPU)
GPUs are a particular type of computer chip that is specialized at creating computer graphics. They were traditionally used to allow computers to play games and do 3D art and design. However, the kind of mathematics involved in computer graphics is of a similar type to the kind used to mind Bitcoin and train AIs, so the demand for GPUs has risen substantially in recent years as new uses have emerged.