INFLUENCE OF FINANCIAL TECHNOLOGY (FINTECH) ON FINANCIAL INDUSTRY

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Musabegovic I., ÖZER M., Djukovic S., Jovanovic S.

EKONOMIKA POLJOPRIVREDA-ECONOMICS OF AGRICULTURE, vol.66, no.4, pp.1003-1021, 2019 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 66 Issue: 4
  • Publication Date: 2019
  • Doi Number: 10.5937/ekopolj1904003m
  • Journal Name: EKONOMIKA POLJOPRIVREDA-ECONOMICS OF AGRICULTURE
  • Journal Indexes: Emerging Sources Citation Index (ESCI)
  • Page Numbers: pp.1003-1021
  • Keywords: Financial Technology, Banking, Disruption, Efficiency, Regulation
  • Anadolu University Affiliated: Yes

Abstract

The financial technology (hereinafter: fintech) industry is growing rapidly which is supported by the fact that it received more than $20 billion in investment last year alone. This article surveys historical development of fintech and its influence on market structure in banking industry, efficiency, strategic plans of participants, and stability of financial market. Based on World Bank database, the paper tests the fundamental premise - whether there is a relationship between country GDP and population and usage of new technology and smartphones in financial transactions and payment processing.