Definition of FinTech and Description of the FinTech Industry

Dorfleitner, Gregor; Hornuf, Lars; Schmitt, Matthias; Weber, Martina

doi:10.1007/978-3-319-54666-7_2

Cited by 65 publications

(39 citation statements)

References 12 publications

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“…Thus, various types of studies related to fintech were pointed out after 2010. In this stream of studies related to fintech, the early studies were mostly related to define, categorize and explain the role of fintech [16][17][18][19]. Most of the research argued the fintech as a different industry from other industries because of its own unique ecosystem [5,9,10,12,16,20,21].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Especially, peer-to-peer (P2P) crowdfunding supported by fintech has opened new avenues for consumers, who can now bypass traditional financial institutions. This phenomenon might lead to diverse, new financial businesses with their own sustainable ecosystem [15][16][17][18][19][20][21][22].…”

Section: Introductionmentioning

confidence: 99%

“…There is abundant research on the fintech industry. When the fintech industry was in its initial stages, most research focused on the definition of fintech services and their functional role in the financial sector [16][17][18][19]. They argued the different characters of this industry from the traditional financial industry because of its unique ecosystem, though fintech would eventually evolve to broaden the scope of services in the traditional financial industry [5,9,10,12,16,20,21].…”

Section: Introductionmentioning

confidence: 99%

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Feasibility of the Fintech Industry as an Innovation Platform for Sustainable Economic Growth in Korea

Shin

Choi

2019

Sustainability

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This paper examines the feasibility of fintech as a platform for sustainable economic growth and as a prompter of the fourth industrial revolution. To analyze the role of fintech in the national economy, we first broaden its definition and compare its economic performance using three methodologies—Demand-driven model, Supply-driven model and industry linkage effect in interindustry analysis. We find that the fintech industry has a stronger effect on production inducement. Regarding industry linkage effects, fintech ranked the top in all 31 industries for the forward linkage effect and 22 for the background linkage effect—much higher than the traditional financial industry. This implies that the fintech industry is effective as the intermediate good with national demand as well as the final good. Particularly, this industry plays the roles of intermediate and final goods across almost all industries. That is, fintech could better promote overall national economic performance as a platform industry. Because most businesses within the fintech industry depend on innovation through the integration of finance and information technology, we find that fintech can feasibly prompt the fourth industrial revolution. Nonetheless, this industry is characterized by excessive regulations in Korea, indicating the need for negative regulation for new, innovative businesses within the fintech industry that would critically emphasize innovativeness for inclusive, sustainable economic growth.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Feasibility of the Fintech Industry as an Innovation Platform for Sustainable Economic Growth in Korea

Shin

Choi

2019

Sustainability

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“…In fact, there is no formal registry of FinTechs, despite first conceptual efforts, which prevents the qualitative and quantitative determination of the engaged businesses. The term FinTech was established by Dorfleitner et al (2017) in general. Likewise, Gimpel et al (2016) recognised eight types of company structures in their empirical study of 120 company models of chiefly German FinTech start-ups in the business-to-consumer sector, namely:…”

Section: Digitalization In the Finance Industry: A Change In Bankingmentioning

confidence: 99%

The Role of ‘Digitalization’ in German Sustainability Bank Reporting

Diener

Špaček

2020

IJFS

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The financial services sector, particularly with respect to today’s banking industry, is aiming to make a digital transition. Sustainable reporting is a holistic new reporting approach in banking and has only become partially mandatory for the sector. Thus, this paper makes a contribution to the current analysis approach and further development of the German Sustainability Code as well as associated legal approaches. It concerns the assessment of mandatory sustainable reporting in the light of constantly changing market conditions and stricter legal requirements for stakeholder data responsibility. In specific, it focuses on a digital evolving business environment and is intended to provide an insight into the perception of the topic of digitalization in the banking sector. The assessment is based on the structure of the German Sustainability Code. Based on 113 bank reports, a multiple regression analysis of 1410 codings of the keyword ‘digital’ is carried out. The results show that banks partly and not fully address digital issues in their reporting. It transpires that the emphasis is on seven criteria, while social elements are totally ignored. The paper shows a structural inequality within sustainable bank reporting with regard to digitalization. It also shows that issues are not adequately addressed and covered in legal reporting standards and that the provision of information to stakeholders on specific issues is largely undefined.

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“…Another context of fintech is a company that integrates technology with financial services [22]. The well-known example of fintech company is the bank.…”

Section: B Financial Technologymentioning

confidence: 99%

A Model of Factors Influencing the Acceptance of Fintech Payment DANA Indonesia

Fitzhan,

Cleine,

Viriando

et al. 2020

IJRTE

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Technology has changed the world in every aspect. One of them is how we make a transaction. With Financial Technology (Fintech), payment can be made with only your mobile phone, your new digital wallet. Indonesia is one of the fastest countries in digitalization, surpassing Brazil and China, has begun utilizing this new technology. However, the penetration rate is considered low. The condition of Indonesia’s fintech is still developing and competing fiercely against several other fintech that arose together in the same period. In this paper, the study focused on one fintech in Indonesia named DANA. The objective is to propose a model to identify the factors influencing the acceptance and usage of DANA. The methodology used in this study will be TAM that has been modified to fit the object of study. The results are hoped to be used as guidance for DANA’s improvement.

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Definition of FinTech and Description of the FinTech Industry

Cited by 65 publications

References 12 publications

Feasibility of the Fintech Industry as an Innovation Platform for Sustainable Economic Growth in Korea

Feasibility of the Fintech Industry as an Innovation Platform for Sustainable Economic Growth in Korea

The Role of ‘Digitalization’ in German Sustainability Bank Reporting

A Model of Factors Influencing the Acceptance of Fintech Payment DANA Indonesia

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