 Considerations on Financial Technology and the Impact on Financial SystemMonica-Ionelia Mărgărit ()
A chapter in Organizations and Performance in a Complex World, 2021, pp 133-143 from Springer Abstract: Abstract As a result of digital evolution, business innovations have had a strong impact on economic growth. This paper aims to highlight the influence of technological developments, and especially the impact that financial technology has had and/or it will have on the financial system. The first part of the paper focuses on the main developments of financial system. Further, I introduced the notion of FinTech and the impact that this technology has on financial system, followed by an analysis of the benefits and risks implied. Understanding the threats and opportunities brought by FinTech to the financial sector is essential, especially from central bank’s point of view which needs to protect the interests of society, as well as the financial stability and macroeconomic stability. Even though it is currently unlikely that virtual coins will overwhelm sovereign currency, this hypothesis is not excluded, and it is necessary for the central banks to pay more attention to these issues. Keywords: Financial system; Central Bank; Monetary policy; Financial technology (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-50676-6_11 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-50676-6_11 Access Statistics for this chapter More chapters in Springer Proceedings in Business and Economics from Springer |
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