Impact of payment technology innovations on the traditional financial industry: A focus on China

Time and frequency domain connectedness and spill-over among fintech, green bonds and cryptocurrencies in the age of the fourth industrial revolution

“…That KFTX is a net contributor of volatility to Bitcoin is not surprising. This is because FinTech firms have become intertwined with cryptocurrencies because of their similar market segment and reliance on technology in their operations ( Kommel et al., 2018 ; Yao et al., 2018 ). Thus volatility in KFTX price returns is transmitted to Bitcoin returns by causing price fluctuations in bitcoins.…”

“…Since then, many Fintech companies have been redesigning the financial services industry, offering customer-centric services capable of combining speed and flexibility, backed by forward-looking strategies, and cutting-edge business models. Highly developed FinTech firms also initiated multiple interconnections between Fintech and other financial indexes because of the similarity of their market segments and businesses ( Dorfleitner et al., 2017 ; Kommel et al., 2018 ; Yao et al., 2018 ), and there were more investments into Fintech firms from traditional financial institutions ( Lee and Shin 2017 ). FinTech has brought new opportunities and challenges to the traditional industry and, as a result, the relationship between innovative and traditional financial markets is worth studying.…”

Determining Probabilities for a Commercial Risk Model of Czech Exports to China with Respect to Cultural Differences and in Financial Management

“…To pursue market entry opportunities, companies have to negotiate on the spot, which can be rather costly. For Chinese business people (as well as ordinary citizens), the use of ICT and the internet in banking in particular has become commonplace, as is documented in the literature (Yao et al, 2018;Zheng, 2011).…”

Panel Econometric Analysis on Mobile Payment Transactions and Traditional Banks Effort toward Financial Accessibility in Sub-Sahara Africa

“…In the quest to stay competitive and reach more customers, traditional banks that depend on the conditions of partnership can become the major service provider, improve products and services using FinTech innovation, or own shares in a FinTech start-up in the form of investment [8]. So far, as value creation is concerned, Yao et al [23] found that, in China, the introduction and growth of third-party payment operators has impacted the e-commerce industry and has gone further to transform how traditional banks provide services to their customers. While it remains factual that traditional financial institutions have undergone changes due to digital transformation, the presence of new players in the industry and the desire to be more accessible, historically traditional banks do not cut out their offerings easily [24].…”

“…They prefer to maintain and improve existing offerings rather than completely discontinue them in favour of new offerings [25]. This explains the reason behind the hesitation of many financial institutions in embracing mobile payments that could disrupt their fundamental payment instruments [23]. They remain adamant in protecting existing offerings yet proactive in embracing innovation in their attempt to tackling the current trend of digitization in the industry.…”