FinTech, Lending and Payment Innovation: A Review

Sumit Agarwal*, Jian Zhang

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


The global landscape has seen the advent of new technology in offering innovative financial services and products and reshaping the financial sector, namely FinTech. In this review, we discuss the literature on recent FinTech development and its interaction with both banks and consumers. We synthesize the insights it provides into two domains: credit supply and payment and clearing services. The rise of FinTech has introduced digital transformation of the “bricks-and-mortar” banking model and dramatically changed the way financial services are delivered. We also present several future questions and directions that are worthy of investigation for researchers and policy-makers.

Original languageEnglish
Pages (from-to)353-367
Number of pages15
JournalAsia-Pacific Journal of Financial Studies
Issue number3
Publication statusPublished - 30 Jun 2020

Scopus Subject Areas

  • Finance

User-Defined Keywords

  • Banks
  • FinTech
  • Household finance
  • Lending
  • Payments


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