Financial technology emerged in late 20th century, gaining prominence in 1990s. First documented use in 1967 article about Fin-Tech investment company. Telegraph and transatlantic cables laid foundation for early financial technology. Fedwire Funds Service established in 1918 as first electronic money transfer system
Founded in 1812 as City Bank of New York. Became largest bank in US by 1895. First US bank to open overseas branch in Buenos Aires in 1914. Acquired Haiti's Banque Nationale in 1910-1911
PIN originated with ATMs in 1967 for cash dispensing. James Goodfellow patented first PIN, awarded OBE in 2006. Mohamed Atalla invented first PIN-based hardware security module (Atalla Box). By 2006, Atalla Box secured 85% of world's ATM machines
ATM is an electronic banking outlet for basic transactions without branch visits. First ATM appeared in London in 1967, now over 2 million worldwide. First U.S. ATM installed by Chemical Bank in 1969
PIN is a numerical code used in electronic financial transactions. Most commonly used with debit cards for ATM withdrawals. Provides additional security to electronic transactions
TR-34 is a sophisticated key block format implementing X9.24-2 norm. Used in retail banking, especially POS terminals and ATMs. Transfers cryptographic data from KDH (HSM) to KRD (ATM/POS)