O fintech glossary terms

Object

Instance of a class.

Offshore

Outside national boundaries.

Offshore Account

Bank account in a foreign country.

Oligopoly

A market structure in which a few firms dominate.

Open Banking

System providing third-party access to financial data through APIs.

Open Data

Data freely available to everyone.

Open Source

Software with source code available to public.

Operating Margin

Profit after operating costs.

Operational Risk

Risk of loss from failed internal processes or systems.

OPEX

Operating Expenses.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Optimistic Rollup

Scaling solution assuming transactions are valid.

Option

Right, but not obligation, to buy or sell an asset.

Oracle

Service sending real-world data to blockchain.

Order

Instruction to buy or sell.

Order Book

List of buy and sell orders.

OS

Operating System.

OTC

Over The Counter trading.

Out-of-Band Authentication

An authentication method completed through a separate channel or device rather than within the same checkout session.

Overcollateralization

Providing more collateral than loan value.

Overdraft

Spending more money than is in the account.

Overhead

Ongoing business expenses.