The emerging FinTech companies - challenge and chance for banks Cover Image

Появата на ФинТех фирмите – предизвикателство и шанс за банките
The emerging FinTech companies - challenge and chance for banks

Author(s): Ilija Ploshtakov
Subject(s): Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: FinTech; digitalization; banks; financial crisis

Summary/Abstract: The influence of information technologies and the accompanying digitalization of the public life on the activities of the banks is analyzed. The widespread penetration of information technology in people's daily routine and the decline in confidence in banking institutions as a result of the 2008 financial crisis in the United States have led to a transformation in the way financial products and services are being adopted and delivered. As a result of this change, financial and technological firms (FinTech) appear to offer equivalent banking products and become a direct competitor of banks. In this connection, the specificities of FinTech companies are examined, by which their business model is distinguished from that of the banks.

  • Issue Year: 2017
  • Issue No: 4
  • Page Range: 124-142
  • Page Count: 19
  • Language: Bulgarian