Toward Understanding FinTech and its Industry
Knewtson, Heather and Zachary Rosenbaum, 2020, Toward Understanding FinTech and its Industry, Managerial Finance (Forthcoming)
21 Pages Posted: 18 Mar 2020
Date Written: January 16, 2020
We define the term FinTech, differentiating it from financial technology, and use the definition to develop an industry framework. FinTech is a technological innovation that promises a financial market a product or service characterized by sophisticated technology relative to existing technology in that market. The existing FinTech literature is mapped into the FinTech Space, reflecting research on Agile Technologies, the Value of Agile Technologies, FinTech Asset Standards, FinTech Assets, FinTech Services and FinTech Policy and Regulation. These research areas surround FinTech firms and its industry. The Tech Paradigm proposed to clarify the type of technology needed to qualify as a FinTech firm. We use the definition to identify FinTech firms, and provide a structure for its industry, classifying each type of firm by FinTech characteristics.
Keywords: algorithmic trading, blockchain, crowdfunding, cryptocurrency, digital bank, distributed ledger technology, FinTech, InsurTech, LendTech, peer-to-peer, RegTech, robo-advising
JEL Classification: G20
Suggested Citation: Suggested Citation