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.

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.

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.

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.