The term 'fintech' refers to financial technology, encompassing innovations that improve and automate the delivery of financial services. It encompasses a wide range of applications, including mobile banking, online payment systems, and investment platforms. Fintech companies leverage technology such as blockchain, AI, and data analytics to enhance the efficiency, transparency, and accessibility of financial operations. This sector is crucial for democratizing financial services, allowing users to manage finances easily, lower transaction costs, and enable seamless, real-time transactions, thus transforming the traditional finance landscape.