What does Fintech mean?

[Chapuys (Kevyn)]

@j06

First Direct is simply HSBC without the branches. Underneath it’s still the same technology, and endless paper letters and (even, sometimes) required branch visits. So, when TSB launched PhoneBank in 1994, that was fintech too? (It looked identical to First Direct) Therefore, Lloyds telephone banking (unchanged from the TSB incarnation) is fintech? As is Smile, a piss–poor Co–op facsimile product but solely on the internet?

Come on. Traditional banking, just without the branches, does not a fintech make.

In fairness to Smile, it was one of the best online banks when it came out. It just never got updated in about 15 years, as the world passed it by, and when it did get updated it seemed to get even worse .