The Role of Fintech in Reshaping Business Models in Eastern Europe and the Middle East after COVID-19

Vrînceanu Bogdan-Petru () and Shakir Ahmed Hasan ()
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Vrînceanu Bogdan-Petru: Bucharest Academy of Economic Studies, Bucharest, Romania
Shakir Ahmed Hasan: Bucharest Academy of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2025, vol. 19, issue 1, 2304-2315

Abstract: This research investigates the transformative influence of Fintech on reshaping business models within the dynamic context of Eastern Europe and the Middle East (EEME) in the post-COVID-19 era. The study examines how the pandemic has accelerated Fintech adoption and its subsequent impact on business model evolution across various sectors in the region. Existing literature highlights the disruptive potential of Fintech globally, but there is a gap in understanding its specific impact on the EEME region, particularly in the post-pandemic recovery phase. This study addresses this gap by exploring the complex interplay between Fintech adoption and business model transformation. A large-scale survey of 1050 businesses operating in various sectors across EEME was conducted. The survey captured data on Fintech adoption rates, types of solutions utilized, changes in key aspects of business models (revenue generation, customer acquisition, operations, value proposition), enabling factors (regulatory support, consumer demand, digital infrastructure), and perceived challenges (cybersecurity, data privacy). Statistical analysis, including correlation and regression analysis, was employed to test the research hypotheses. The findings reveal a significant acceleration of Fintech adoption post-COVID-19, with 78% of businesses adopting new Fintech solutions compared to 32% pre-pandemic. Key drivers of adoption include regulatory support for digital finance (β = 0.62, p

Keywords: Fintech; Business Model Transformation; COVID-19; Digital Transformation; Post-Pandemic Recovery; Digital Economy (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:19:y:2025:i:1:p:2304-2315:n:1022

DOI: 10.2478/picbe-2025-0178

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