Classic banking: directions of transformation in terms of the technological revolution
Journal Title: Український соціум - Year 2018, Vol 1, Issue 64
Abstract
The article considers the influence of financial technology companies’ development on the classical banking business. The tech lagging of the financial sector in respect to innovations applied has been noted (in comparison with other industries), as well as the significant growth in recent years of venture investments in financial technologies. FinTech companies are especially active in the payments and e-wallets segment, where the drivers of the changes are large equipment manufacturers and global technology companies – Apple, Samsung, Google, Amazon. Much of the investment is directed to the development of P2P payments (person-to-person) and start-ups related to social networks and instant messaging services. Part of the projects focuses specifically on the analysis of behavioral information of social networks users, used to score their solvency and risk assessment in lending. It is noted that regulatory constraints will deter the scaling of FinTech companies to the level of full-fledged banks, but there is an increase in the risk of banks losing market positions in services, especially in the front end of the service process, which is the direct interaction with the client.
Authors and Affiliations
Andrii Shkliar
Keywords
Related Articles
- EP ID EP483690
- DOI -
- Views 145
- Downloads 0
TIME BUDGET OF KYIV STUDENTSHIP (SOCIOLOGICAL RESEARCH EXPERIENCE)
The paper presents some results of the sociological survey “The Everyday Life of Student Youth”, conducted by the authors in the 2nd quarter of 2015 among the students of 4 Kyiv universities: the National Technical Unive...
CERTAIN ASPECTS OF ENSURING THE RESULTS VALIDITY OF THE CONTENT ANALYSIS AS A SOCIAL DISCOURSE RESEARCH METHOD
Content analysis today is one of the leading research methods at the intersection of history, sociology, cultural and other sciences. As a method, content analysis is not only a set of common principles for texts analysi...
Capital flows control: features of innovative approaches and insights for Ukraine
Paper dwells upon the dialectic of liberalization and capital flow controls under the conditions of global transformations. Author clarifies the pros and cons of the international capital flows liberalization for the rec...
Sociological approaches to study types of political culture
Article dwells upon the substantial characteristics of the existing sociological approaches to the studyof types of political culture. Attention is drawn to the fact, that political culture is understood as anaggregate o...
Condition of contemporary general sociological theorising: global experience and local specifications
The article presents specific features and characteristics of the Ukrainian sociology development in general and sociological theorizing in particular; author traces the influence of the “Soviet heritage” in sociology in...