Fintech
aka financial technology, fin-tech, FinTech
Software and platforms that deliver financial services - banking, payments, lending, insurance, wealth - through technology rather than branch-based incumbents. In Ireland, fintech firms are regulated by the Central Bank of Ireland.
Last reviewed May 2026
Definition
Fintech, short for financial technology, is the broad category of software, platforms and infrastructure that deliver regulated financial services through technology rather than through branch-based incumbents. The category breaks down into recognisable sub-shapes: neobanking and digital business accounts (Revolut Business, N26, Wise), payments and acquiring (Stripe, SumUp, Fire), insurtech, wealthtech and robo-advice, lending and embedded finance, and regtech. Ireland is one of the larger fintech hubs in the EU. The Department of Finance's Ireland for Finance strategy explicitly targets the sector, the IFSC cluster in Dublin houses several thousand fintech roles, and industry representation runs through Fintech Ireland (the independent ecosystem map) and the Fintech and Payments Association of Ireland (FPAI), which is an affiliate of Banking and Payments Federation Ireland. Any firm offering payment services, e-money issuance, deposit-taking, lending, or investment services to Irish customers needs an authorisation from the Central Bank of Ireland (CBI), which acts as gatekeeper. The most common fintech authorisation tiers in Ireland are Payment Institution (PI), Electronic Money Institution (EMI), Credit Institution (full bank), MiFID investment firm, and insurance intermediary. Many international fintech firms reach Irish customers via passporting from another EU member state rather than holding Irish authorisation directly.
Why it matters for software choice
When Irish operators evaluate a fintech tool, the marketing rarely names the regulated entity behind the brand. That gap matters: deposits with a credit institution are covered by the Deposit Guarantee Scheme, e-money balances at an EMI are safeguarded but not insured, and a passporting EMI is supervised in another EU country, not by the CBI. Knowing the authorisation tier and home regulator changes how you treat the funds and what to do if the provider fails.
Authority sources
- Central Bank of Ireland: Payment Institutions (www.centralbank.ie)
- Department of Finance: Ireland for Finance strategy (www.gov.ie)
- Fintech and Payments Association of Ireland (FPAI) (fpai.ie)
- Fintech Ireland: ecosystem map (fintechireland.com)
Software categories this affects
Vendors covered by this term
Revolut Business
EU-licensed business banking with Irish IBANs, SEPA Instant, and multi-currency accounts
N26 Business
German-licensed business account for Irish freelancers and sole traders with EU IBAN
Wise Business
Multi-currency business account with mid-market FX rates and EU IBAN for Irish SMEs
Stripe
Dublin-headquartered EU payments platform with native EUR processing, SEPA, and Irish IBAN payouts
Fire Business Account
Irish-founded, Central-Bank-of-Ireland-regulated business payments account with Irish IBANs, UK Faster Payments, and a payments API for Irish SMEs
Soldo
Irish-regulated prepaid card and spend management platform for European SMEs
Payhawk
Spend management and company cards for mid-market European businesses
Related terms
Neobank
A digital-first, app-led account provider with no physical branches. Some hold full credit-institution licences; many operate as Electronic Money Institutions (EMIs) or under EU passporting rather than Irish bank authorisation.
Electronic Money Institution (EMI)
A specific Central Bank of Ireland authorisation that permits a firm to issue electronic money (prepaid balances, e-wallets, cards) and provide payment services. EMIs cannot take deposits and customer funds are safeguarded, not insured.
Payment Institution (PI)
A Central Bank of Ireland authorisation that permits a firm to provide one or more payment services under PSD2 - account services, payment execution, card acquiring, money remittance, AISP, PISP - without being an EMI or credit institution.
Central Bank of Ireland (CBI)
Ireland's financial regulator and gatekeeper for banks, payment firms, e-money issuers, MiFID investment firms and insurance providers. Maintains the public CBI register and operates the Fitness and Probity regime for senior staff at regulated firms.
PSD2 (Payment Services Directive 2)
The EU directive governing payment services and payment service providers across the EEA. Transposed into Irish law by SI 6/2018 (European Union (Payment Services) Regulations 2018). Created the open banking and Strong Customer Authentication regimes.