The FinTech Dividend: How Much Money Is FinTech Likely to Mobilize for Sustainable Development?

Michael, Bryane

doi:10.2139/ssrn.3589224

Cited by 3 publications

(1 citation statement)

References 4 publications

(5 reference statements)

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“…Just after the GFC, the Bulgarian FINTECH sector was studied, among others in the region, by a limited number of researchers in the scope of FINTECH venture capital (Cumming and Schwienbacher 2018), cash payments for utility bills, remittances as a percentage of GDP (World Bank Group 2020), FINTECH adoption driven by COVID-19 based on mobile app download data from the AppTweak platform (Fu and Mishra 2020), clustering analysis of e-commerce enterprises (Zoroja et al 2020), FINTECH innovation in the Western Balkans (Odorović et al 2020), Bulgarian financial technology market size estimation (Deloitte 2016), alternative and FINTECH payment solutions for airlines (Romānova et al 2019), FINTECH for sustainable development (Michael 2020), pro-communist countries' challenges for digital innovations (Kerényi 2018), and in a study on competition issues in the area of financial technology (conducted by European Parliament in 2018). Unfortunately, no extensive research on the topic has been done in Bulgaria, if not in Europe, particularly of individual FINTECH usage before and after the immediate COVID-19 crisis.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Transactions Using FINTECH during the Covid-19 Crisis in Bulgaria

Vasenska

Dimitrov

Koyundzhiyska-Davidkova

et al. 2021

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In the context of current crises following COVID-19 and growing global economic uncertainties, the issues regarding financial transactions with FINTECH are increasingly apparent. Consequently, in our opinion, the utilization of FINTECH financial transactions leads to а risk-reduction approach when in contact with other people. Moreover, financial transactions with FINTECH can save up customers’ pecuniary funds. Therefore, during crises, FINTECH applications can be perceived as more competitive than the traditional banking system. All the above have provoked us to conduct research related to the utilization of financial transactions with FINTECH before and after the COVID-19 crisis outbreak. The aim of the article is to present a survey analysis of FINTECH utilization of individual customers before and after the crisis in Bulgaria. The methodology includes a questionnaire survey of 242 individual respondents. For the data processing, we implemented statistical measures and quantitative methods, including two-sample paired t-tests, Levene’s test, and ANOVAs performed through the computer language Python in a web-based interactive computing environment for creating documents, Jupyter Notebook. The findings bring out the main issues related to the implementation of financial transactions with FINTECH under the conditions of the crisis. The findings include the identification of problems related to FINTECH transactions during the COVID-19 crisis in Bulgaria.

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Section: Literature Reviewmentioning

confidence: 99%

Financial Transactions Using FINTECH during the Covid-19 Crisis in Bulgaria

Vasenska

Dimitrov

Koyundzhiyska-Davidkova

et al. 2021

Risks

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Assessing statistical link between FinTech PEST environment and achievement of SDGs

Pauliukevičienė

Stankevičienė

2021

Public and Municipal Finance

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Implementation of SDGs is the unified goal of 193 UN Member States. FinTech plays a crucial role in achieving it. Therefore, the development of FinTech must be facilitated through proper policy-making and public finance, creating beneficial PEST conditions. However, the interaction of the FinTech PEST environment and achievement of SDGs is a topic that has not yet been addressed. The purpose of this study is to assess the link between these two indicators using statistical methods, indicate SDGs having the strongest link to FinTech PEST environment, and explain the interface to facilitate its useful application within government and financial regulations, as well as administration of the state and municipal financial entities. The results show that the economic and investment potential of Northern Europe is caused by the most favorable PEST environment for FinTech sector development, and demonstrate the existence of a statistical link between FinTech PEST environment and SDG4, SDG8, SDG9, SDG16. There is a clear trend – the more favorable the FinTech PEST environment, the better the achievement of SDGs, the better results of Sustainable Finance indicators, and the higher the Sustainable Finance typology assigned to the country. These results suggest that the goals, targets, and indicators of SDG4, SDG8, SDG9, and SDG16 contribute to the formation of a favorable environment and are conductive to the sustainable development of the FinTech industry in a country. Therefore, sustainability in the development of FinTech industry and finance, and the achievement of SDGs, is a circular process of three interacting factors.

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FinTech in the System of Transformations of the Global Financial Sphere

Krylova

2020

Management of Economy: Theory and Practice. Chumachenko’s Annals

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The global financial sector is undergoing irreversible changes due to the significant impact of digital technologies, including FinTech. In this regard, the current conditions of the financial services market of Ukraine require the search for non-traditional forms of innovative development and the need to implement information systems and digital technologies. This is in line with the provisions of the Association Agreement between Ukraine and the EU, the Comprehensive Program for the Development of the Financial Sector of Ukraine until 2020, the Strategy for the Development of the Financial Sector and Fintech in Ukraine until 2025. The article analyses and summarizes various scientific approaches to the definition of FinTech. Features and tendencies of FinTech development in different countries of the world are investigated. It is revealed that at present in the financial sector there is a partial displacement of traditional intermediaries by new participants, automated processes and information networks. Increasing competition requires traditional financial institutions to apply new digital technologies, improve financial products, change business models and reduce operating costs. It is established that FinTech is able to solve the current problems of the financial services market. As a result, the current regulatory framework for regulating the development of the financial services market should be changed to prevent uncontrolled situations in the financial system due to the increasing impact of financial and operational risks.

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The FinTech Dividend: How Much Money Is FinTech Likely to Mobilize for Sustainable Development?

Cited by 3 publications

References 4 publications

Financial Transactions Using FINTECH during the Covid-19 Crisis in Bulgaria

Financial Transactions Using FINTECH during the Covid-19 Crisis in Bulgaria

Assessing statistical link between FinTech PEST environment and achievement of SDGs

FinTech in the System of Transformations of the Global Financial Sphere

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