FinTech, Lending and Payment Innovation: A Review
Asia-Pacific Journal of Financial Studies, 2020
19 Pages Posted: 6 May 2020
Date Written: April 11, 2020
The global landscape has seen the advent of new technology in offering innovative financial services and products and reshaping the financial sector, namely FinTech. In this review, we discuss the literature on recent FinTech development and its interaction with both banks and consumers. We synthesize the insights it provides into two domains: credit supply and payment and clearing services. The rise of FinTech has introduced digital transformation of the “bricks‐and‐mortar” banking model and dramatically changed the way financial services are delivered. We also present several future questions and directions that are worthy of investigation for researchers and policy‐makers.
Keywords: FinTech; Banks; Lending; Payments; Household Finance
JEL Classification: D14, G21, G23
Suggested Citation: Suggested Citation