Utilization of Fintech Applications during the Covid-19 Pandemic

Ozlem Akdeniz

A chapter in Digital Transformation - Towards New Frontiers and Business Opportunities from IntechOpen

Abstract: At the beginning of 2020, a new disease (Covid-19) has emerged and expanded swiftly all around the world. Currently, we are still living in unprecedented times in which we should have social distance from one another and mostly work from home to diminish the spreading speed of the Covid-19. While we are experiencing these limitations, businesses and organizations are expected to work without having any disruptions. At this point, entering new technologies into our lives was inevitable and in fact, these new technologies have helped us to eliminate the challenges caused by the precautions with fewer flaws. Even though Fintech applications have numerous advantages, nothing comes without its drawbacks. The empirical analysis in this chapter aims to evaluate selection of best Fintech-based investments in the Turkish banking sector with an application of a hybrid DANP-fuzzy TOPSIS technique. Empirical findings of the analysis indicate that Strategy 2 has the best rank among the alternatives, followed by Strategy 1 and Strategy 3, whilst Strategy 4 has the weakest importance among the strategy preferences. Our findings suggest that policy makers/bank managers should focus more to direct Fintech investments firstly to lending services followed by payment systems.

Keywords: Fintech; Covid-19; financial institutions; pandemic; Turkish banking (search for similar items in EconPapers)
JEL-codes: M15 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:249257

DOI: 10.5772/intechopen.101796

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