Abstract
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 language | English |
|---|---|
| Pages (from-to) | 353-367 |
| Number of pages | 15 |
| Journal | Asia-Pacific Journal of Financial Studies |
| Volume | 49 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 30 Jun 2020 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
User-Defined Keywords
- Banks
- FinTech
- Household finance
- Lending
- Payments
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