Fintech and Banking: An Overview

Thomas Walker (), Elaheh Nikbakht () and Maher Kooli ()
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Thomas Walker: Concordia University
Elaheh Nikbakht: Concordia University
Maher Kooli: University of Quebec at Montreal

Chapter Chapter 1 in The Fintech Disruption, 2023, pp 1-8 from Palgrave Macmillan

Abstract: Abstract Since the turn of the century, emerging technologies such as artificial intelligence, blockchain, cloud computing, big data, and the Internet of Things (jointly, often referred to as ABCDI) have developed rapidly. These technologies have a pronounced effect on the financial industry and have led to a series of so-called fintech innovations that have revolutionized the way banks and other financial institutions conduct their business. The Financial Stability Board, market supervisors, regulators, and various other academic and financial industry entities are increasingly pointing to the opportunities and risks fintech innovations present to the financial industry. The current collection aims to highlight the main effects of fintech innovations on the banking industry and investigate the opportunities and challenges that these new technologies will bring to commercial banks and retail banks for both financial service regulators and practitioners. This introductory chapter summarizes the background and importance of bank-related fintech technologies and provides an overview of the fourteen chapters of this collection.

Keywords: Fintech; Artificial intelligence; Cloud computing; Cryptocurrencies; Blockchain; Banking (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psincp:978-3-031-23069-1_1

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DOI: 10.1007/978-3-031-23069-1_1

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