Abstract
The fast expansion of Fin Tech start-ups has changed the financial industry, putting established financial institutions on the defensive and forcing them to adapt to this changing landscape. This essay examines the influence of Fin Tech start-ups on established financial institutions, investigates their behavior in reaction to this changing reality, and digs into the critical factor of user attitude while designing such systems. Furthermore, the adaptation of Fin Tech among users, the existing environment, prospects, and investment outlook in the Fin Tech industry are also investigated.
Keywords: Fin tech, Financial Entrepreneurship, Banking Innovation, Disruptive Innovation, Banking, Online Banking, and BFSI.
1) Hariyono A., Tjahjadi B. The role of intellectual capital in the development of financial technology in the new normal period in Indonesia. J. Asian Finance, Econ. Bus. 2021;8(1):217–224.
2) Grzelczak A., Kosacka M., Werner-Lewandoswka . 24th International Conference on Production Research (ICPR) 2017. Employee competencies for industry 4.0 in Poland – preliminary research results; pp. 139–144.
3) Maiti M., Vuković D., Mukherjee A., Paikarao P.D., Yadav J.K. Advanced data integration in banking, financial, and insurance software in the age of COVID- 19. J. Software: Pract. Exp. 2021;52(4):887–903.
4) Baber, H. FinTech, Crowdfunding and Customer Retention in Islamic Banks. Vision 2020, 24, 260–268.
5) .Zhang, B.Z.; Ashta, A.; Barton, M.E. Do FinTech and financial incumbents have different experiences and perspectives on the adoption of artificial intelligence? Strateg. Chang. 2021, 30, 223–234.
6) Hornuf, C.; Hornuf, L. The emergence of the global fintech market: Economic and technological determinants. Small Bus. Econ. 2019, 53, 81–105.