FinTech, Lending and Payment Innovation: A Review

Sumit Agarwal*, Jian Zhang

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    79 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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