Abstract
This chapter examines a thorough overview of FinTech and its significance in one’s day-to-day life. FinTech has revolutionized modern businesses by introducing digital technology. It has transformed traditional businesses into techno-savvy point-of-sale companies. With the big investments in essential financial sectors, including banks, e-commerce, insurance industry, and personal finance management, FinTech allows financial services to evolve tremendously. It has contributed significantly to the global economy. This chapter serves a twofold functionality. It drafts FinTech industry’s correlation with the banking sector, traditional banking, and big data to understand the impact made by technology and brings into picture various challenges faced by FinTech to improve the economy. The evolution of the FinTech industry and its applications in our daily life are discussed to connect the reader with the real face of FinTech. Most importantly, the FinTech ecosystem which forms the central space in the FinTech industry is introduced.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Egan, M. (2016). 30% of bank jobs are under threat, CNN Money, April 4, 2016. https://money.cnn.com/2016/04/04/investing/bank-jobs-dying-automation-citigroup/.
Gai, K., Qiu, M., & Sun, X. (2018). A survey on FinTech. Journal of Network and Computer Applications, 103, 262–273.
Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital finance and FinTech: Current research and future research directions. Journal of Business Economics, 87, 537–580. https://doi.org/10.1007/s11573-017-0852-x.
Milian, E. Z., de Mauro, M. S., & de Carvalho, M. M. (2019). Fintechs: A literature review and research agenda. Electronic Commerce Research and Applications, 34, 100833.
Reed, J. (2016). FinTech, financial technology and modern finance in the 21ST century. Torrazza Piemonte, TO: Printed by Amazon Italia Logistica S.r.l. isbn: 9781539587019.
Schueffel, P. (2016). Taming the beast: A scientific definition of Fintech. Journal of Innovation Management, 4(4), 32–54.
Swanson, S. (2016). Fintech for beginners! Understanding and utilizing the power of financial technology. Torrazza Piemonte, TO: Printed by Amazon Italia Logistica S.r.l. isbn: 9781539919315.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Kaur, G., Habibi Lashkari, Z., Habibi Lashkari, A. (2021). Introduction to FinTech and Importance Objects. In: Understanding Cybersecurity Management in FinTech. Future of Business and Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-79915-1_1
Download citation
DOI: https://doi.org/10.1007/978-3-030-79915-1_1
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-79914-4
Online ISBN: 978-3-030-79915-1
eBook Packages: Business and ManagementBusiness and Management (R0)