Understanding the Fintech Wave: A Search for a Theoretical Explanation

Anita Mirchandani, Namrata Gupta and Esinath Ndiweni
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Anita Mirchandani: Adjunct Professor, Heriot Watt University, Dubai Campus, UAE,
Namrata Gupta: University of Wollongong, Dubai Campus, UAE,
Esinath Ndiweni: Heriot Watt University, Dubai Campus, UAE

International Journal of Economics and Financial Issues, 2020, vol. 10, issue 5, 331-343

Abstract: The recent rise in the number of Fintech companies is set to transform the financial services industry on a global scale. Fintech companies create more competitive advantages in the financial market by providing faster services in the field of payment, financial consultancy, lending, and investment. Many countries have joined the bandwagon of adopters; however, little is known about the factors behind their success. Therefore, this paper attempts to investigate the key factors that underpin the success of Fintech across the various financial sectors and highlight the challenges they pose to traditional banks. Due to limited scholarly work on the subject the paper conducts a meta syntheses of ten published global survey reports conducted by consultants such as PwC (2016; 2017; 2019), Capgemini (2017), Ernst and Young (2017; 2019); KPMG (2019) etc. and relevant data from International Monetary Fund and World Bank report (2019). We identified the key enablers and disablers of Fintech and classified them into macro and micro factors. We concluded that the success of Fintech is context dependent on the political, cultural and environmental factors in the adopting nation.

Keywords: Fintech; Macro and Micro Enablers; Context Dependent; Disruptors (search for similar items in EconPapers)
JEL-codes: E44 G1 G2 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2020-05-37

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