FinTech, Lending and Payment Innovation: A Review

Asia-Pacific Journal of Financial Studies, 2020

19 Pages Posted: 6 May 2020

See all articles by Sumit Agarwal

Sumit Agarwal

National University of Singapore

Jian Zhang

The University of Hong Kong - Faculty of Business and Economics

Date Written: April 11, 2020

Abstract

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

Agarwal, Sumit and Zhang, Jian, FinTech, Lending and Payment Innovation: A Review (April 11, 2020). Asia-Pacific Journal of Financial Studies, 2020, Available at SSRN: https://ssrn.com/abstract=3573248

Sumit Agarwal

National University of Singapore ( email )

15 Kent Ridge Drive
Singapore, 117592
Singapore
8118 9025 (Phone)

HOME PAGE: http://www.ushakrisna.com

Jian Zhang (Contact Author)

The University of Hong Kong - Faculty of Business and Economics ( email )

Pokfulam Road
Hong Kong
China

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