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2019 | OriginalPaper | Chapter

2. Fintech Emergence and Global Evolution

Authors : Nafis Alam, Lokesh Gupta, Abdolhossein Zameni

Published in: Fintech and Islamic Finance

Publisher: Springer International Publishing

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Abstract

Fintech is redefining the financial services customer journey. The digital era has unleashed a disruptive development and emergence across the financial industry allowing financial technology firms to attract previously “unbanked” people in emerging markets while holding already existing conventional bank customer. The fintech sector evolved after the global financial crisis in 2008, despite obstacles such as poor infrastructure and limited internet penetration. Fintech is a new generation of tech-savvy firms that are supported by disruptive technologies such as behavioural and transactional analytics, machine learning, big data, blockchain, biometrics, cloud and mobile. Fintech would allow conventional market participants to overhaul the old-fashioned procedures, operational model and their infrastructure which eventually renovates the end user experience. This chapter will explore the emergence and global evolution of fintech.

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Literature
go back to reference Accenture. (2016a). Global Fintech Investment Growth Continues in 2016 Driven by Europe and Asia, Accenture Study Finds. Available at: www.accenture.com. Accessed 7 Nov 2018. Accenture. (2016a). Global Fintech Investment Growth Continues in 2016 Driven by Europe and Asia, Accenture Study Finds. Available at: www.​accenture.​com. Accessed 7 Nov 2018.
Metadata
Title
Fintech Emergence and Global Evolution
Authors
Nafis Alam
Lokesh Gupta
Abdolhossein Zameni
Copyright Year
2019
Publisher
Springer International Publishing
DOI
https://doi.org/10.1007/978-3-030-24666-2_2