Telecom Business Review

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Fintech: Emerging Trends


Affiliations
1 Ph.D. Scholar, ex-Vice President, Vodafone India Services Pvt Ltd, India
     

   Subscribe/Renew Journal


Fintech in simple terms is leveraging technology to deliver banking and financial solutions to individual and enterprise customers. This is one of the fastest-growing sectors in both developed & developing countries with India amongst the top three fintech startups globally. Blockchain, Cryptocurrency, AI, Data Analytics, Machine learning, Big data, Robotics, and Cloud are some of the top technologies leveraged by fintech firms to deliver products. Domestic & global broadband connectivity setup by telecom service providers made available basic infrastructure needed for fintech growth. One of the early fintech innovations was the installation of the first ATM by Barclays Bank in 1967. Post global financial crisis in 2008, many ex-employees of financial firms came up with innovative fintech products. The objective of this paper is to identify globally emerging fintech trends. The Qualitative research methodology was used relying on a review of literature, discussion with the professionals and researchers. The emerging trends include IMF focus on leveraging fintech for cross border payments using distributed ledger technology, Augmented reality for customer satisfaction, Digital insurance, Digital invoicing, Crowd-funding, Crowd investing, Robotics investment advisory, Future relationships between Banks and Fintech firms, Central bank regulatory role. It also came out that although there are many research papers on fintech globally, however, there is not much research work carried out on fintech in India and there is an opportunity for further research on innovation and growth of fintech in India.

Keywords

Fintech, Finance, Digital, Technology, Innovation
Subscription Login to verify subscription
User
Notifications
Font Size


  • Adrian, M. T., & Griffoli, M. T. M. (2019). The rise of digital money. International Monetary Fund.

  • Arner, D. W., Barberis, J., & Buckley, R. P. (2016). 150 years of Fintech: An evolutionary analysis. JASSA The Finsia Journal of Applied Finance, (3), 22.

  • Bauguess, S. W. (2017). The role of big data, machine learning, and AI in assessing risks: A regulatory perspective. U.S. Securities and Exchange Commission.

  • Belanche, D., Casaló, L. V., & Flavián, C. (2019). Artificial intelligence in FinTech: Understanding robo-advisors adoption among customers. Industrial Management & Data Systems, 119(7), 1411-1430.

  • Beyond COVID-19: New Opportunities for fintech companies. (2020). Retrieved from https://www2.deloitte.

  • com/us/en/pages/financial-services/articles/beyondcovid-19-new-opportunities-for-fintech-companies.

  • html

  • Broadband Highways. (n.d.). Retrieved from https:// www.digitalindia.gov.in/content/broadband-highways

  • Chen, M. A., Wu, Q., & Yang, B. (2019). How valuable is FinTech innovation? The Review of Financial Studies, 32(5), 2062-2106.

  • Das, S. (2019). Opportunities and challenges of FinTech. Monthly Newsletter (pp. 26-29). CCIL.

  • Dubey, V. (2019). FinTech innovations in digital banking. International Journal of Engineering Research & Technology (IJERT), 8(10).

  • Fintech Lending – Unlocking Untapped Potential. (2019).Retrieved from https://www.nasscom.in/knowledge-center/ publications/fintech-lending-unlocking-untapped-potential

  • Global Fintech Adoption. (2019). Retrieved from https:// www.ey.com/en_gl/ey-global-fintech-adoption-index

  • Gomber, P., Koch, J. A., & Siering, M. (2017). Digital finance and FinTech: Current research and future research directions. Journal of Business Economics, 87(5), 537-580.

  • He, M. D., Leckow, M. R. B., Haksar, M. V., Griffoli, M.T. M., Jenkinson, N., Kashima, M. M., ... & Tourpe, H.(2017). Fintech and financial services: Initial considerations. International Monetary Fund.

  • Jutla, S., & Sundararajan, N. (2016). India’s FinTech ecosystem. In The FinTech Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries (pp. 56-57).

  • Luciani, T. C., Distasio, B. A., Bungert, J., Sumner, M., & Bozzo, T. L. (2016). U.S. Patent Application No.14/843,455.

  • Marafie, Z., Lin, K. J., Zhai, Y., & Li, J. (2018, July).Proactive fintech: Using intelligent IoT to deliver positive insurtech feedback. In 2018 IEEE 20th Conference on Business Informatics (CBI), (vol. 2, pp. 72-81).IEEE.

  • Nakamoto, S. (2019). Bitcoin: A peer-to-peer electronic cash system. Manubot.

  • Pejkovska, M. (2018). Potential negative effects of Fintech on the financial services sector. Examples from the European Union, India and the United States of America.

  • Pentland, A., & Shrier, D. L. (Eds.). (2016). Frontiers of financial technology: Expeditions in future commerce, from blockchain and digital banking to prediction markets and beyond. Visionary Future.

  • Philippon, T. (2016). The fintech opportunity (No. w22476). National Bureau of Economic Research.

  • Romānova, I., & Kudinska, M. (2016). Banking and Fintech: A challenge or opportunity? In Contemporary Issues in Finance: Current Challenges from across Europe. Emerald Group Publishing Limited.

  • Schindler, J. W. (2017). FinTech and financial innovation: Drivers and depth.

  • Schueffel, P. (2016). Taming the beast: A scientific definition of fintech. Journal of Innovation Management, 4(4), 32-54.

  • What is M-Pesa? (n.d.). Retrieved from https://www.vodafone.com/what-we-do/services/m-pesa


Abstract Views: 113

PDF Views: 0




  • Fintech: Emerging Trends

Abstract Views: 113  |  PDF Views: 0

Authors

Sudhir Kumar Pant
Ph.D. Scholar, ex-Vice President, Vodafone India Services Pvt Ltd, India

Abstract


Fintech in simple terms is leveraging technology to deliver banking and financial solutions to individual and enterprise customers. This is one of the fastest-growing sectors in both developed & developing countries with India amongst the top three fintech startups globally. Blockchain, Cryptocurrency, AI, Data Analytics, Machine learning, Big data, Robotics, and Cloud are some of the top technologies leveraged by fintech firms to deliver products. Domestic & global broadband connectivity setup by telecom service providers made available basic infrastructure needed for fintech growth. One of the early fintech innovations was the installation of the first ATM by Barclays Bank in 1967. Post global financial crisis in 2008, many ex-employees of financial firms came up with innovative fintech products. The objective of this paper is to identify globally emerging fintech trends. The Qualitative research methodology was used relying on a review of literature, discussion with the professionals and researchers. The emerging trends include IMF focus on leveraging fintech for cross border payments using distributed ledger technology, Augmented reality for customer satisfaction, Digital insurance, Digital invoicing, Crowd-funding, Crowd investing, Robotics investment advisory, Future relationships between Banks and Fintech firms, Central bank regulatory role. It also came out that although there are many research papers on fintech globally, however, there is not much research work carried out on fintech in India and there is an opportunity for further research on innovation and growth of fintech in India.

Keywords


Fintech, Finance, Digital, Technology, Innovation

References