| Περίληψη: | Recently, there has been a wave of renewal and innovation that is causing significant changes in both the global and domestic financial environments, with banks leading the way. The rapidly changing consumer preferences, the rapid development of technologies, the increased level of competition as well as the current regulatory framework all contribute to the enhancement of the phenomenon of digital disruption and the placement of Fintech services as a pivotal role in the financial sector.
This phenomenon and its general impact on the financial sector are presented and analyzed in this dissertation, which is based on both domestic and international bibliography.
The first chapter presents a literature review of the topic that clarifies the term Fintech and presents the types in which it is separated. The second chapter describes the historical evolution of Fintech on global stage, followed by the third chapter, analyzing the changes they have made in the financial sector. This analysis relates to payments, savings, investment and lending sectors. Chapter four examines the relationship between Fintech and the traditional banking environment, where the challenge posed by Fintech in the existing financial system is addressed, the position that banks hold against it and the ability to have and operate a hybrid model where both digital and traditional banking networks coexist. Finally, chapter 5 analyzes the Fintech industry where the results from the exemplary data has recently been collected by major financial market research corporations such as KPMG, PwC and EY. Also, there is a brief description about the Fintech action plan the European Commission has published.
The results of the research obviously confirmed Fintech's significantly increasing roles in the modern economy and suggested the checkpoints to digitize the existing business culture. It has been an enormous challenge for financial institutions to adapt new technological developments.
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