FinTechs as Alternative Financial Market Players
FinTechs as Alternative Financial Market Players

Author(s): Monika Klimontowicz, Krystyna Mitręga-Niestrój
Subject(s): Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
Published by: Masarykova univerzita nakladatelství
Keywords: FinTech; financial innovations; new technology; financial services;
Summary/Abstract: The dynamic development of technology has resulted in changing customer needs, expectations and market behaviour. As a result bank and other financial entities were forced to change their product and distribution policy. Among external factors influencing banking market conditions, the dynamic development of nonbank technologyoriented service providers is thought to be one of the highest potentials to impact the market structure. This trend is also visible in Poland, where development of FinTech companies in different financial services market areas is noticable. The paper presents different approaches to the FinTech phenomenon. It shows the taxonomy of the FinTech companies and analysis the segments of financial markets which are characterised by low market entry barriers. The main aim of the article is to outline the Polish FinTech landscape – to characterise the FinTech market, showing main participants, drivers of development and challanges. The research method includes inductive and deductive methods, together with comparative analysis.

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