Fintech and the Art of Disruption

Mustafa Raza Rabbani (), M. Kabir Hassan, Mohammad Dulal Miah () and Himani Grewal ()
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Mustafa Raza Rabbani: College of Business administration, University of Bahrain
Mohammad Dulal Miah: University of Nizwa
Himani Grewal: Moradabad Institute of Technology

A chapter in FinTech in Islamic Financial Institutions, 2022, pp 29-47 from Springer

Abstract: Abstract This chapter attempts to provide a comprehensive overview of the ongoing technological disruption in the finance world. There is no denying that technology has already brought disruption of unprecedented scale and type in terms of bringing innovative solutions like never seen before in the financial sector. The disruptive innovation like P2P lending, Crowdfunding, Cryptocurrency, Regtech, Insurtech mobile payment, etc. has changed the way traditional financial institutions used to operate. Against such a backdrop, this chapter attempts to provide an overview of this disruption. The chapter also explores how these innovations have brought changes in the working cultures among financial institutions. The study suggests, based on the analysis of facts and figures that the disruptive technology has brought positive changes in the society in terms of delivering valuable stimulus and financial aid to the vulnerable and affected by the COVID-19 pandemic. The findings of the study further suggest that the Fintech disruption has been a blessing in disguise for the overall growth and development of the finance community.

Keywords: Bitcoin; Blockchain; Cloud computing; Cryptocurrency; Financial technology; Islamic fintech (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-14941-2_2

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DOI: 10.1007/978-3-031-14941-2_2

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