Fintech and Its Historical Perspective

Paul David Richard Griffiths ()
Additional contact information
Paul David Richard Griffiths: EM Normandie Business School, Métis Lab

Chapter Chapter 2 in The Palgrave Handbook of FinTech and Blockchain, 2021, pp 19-50 from Springer

Abstract: Abstract This chapter gives an overview of how the financial services sector, especially banking, was a driver for ICT development in the last quarter of the twentieth century, and early years of this century. But three complex external phenomena on the technological, social and financial fronts happened nearly simultaneously in the second half of the last decade that led banks to ‘get their eyes off the ball’ and opened the window for a whole new industrial sector to emerge, Fintech. The effects of these three external forces were magnified by the transition from an industrial economy for which the banks were well equipped, to the knowledge economy that they were slow to interpret. Finally, the reader is presented with a framework to understand the industrial organisation of the Fintech sector and insights on how the relationship between banks and Fintech evolved from a highly antagonistic one, to one of collaboration.

Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-66433-6_2

Ordering information: This item can be ordered from
http://www.springer.com/9783030664336

DOI: 10.1007/978-3-030-66433-6_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().