The Pros and Cons of Technological Innovations in Financial Services
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2017, Vol 73, Issue 2
Abstract
There is a large variety of technologies that have been used in the financial services sector. However, today banks and insurance companies find themselves overwhelmed by innovators from outside their business. The list usually starts with Bitcoin, mobile payments, open application programming interface, and crowdfunding – but there seems to be no end to the diversity. Following the theory of Thorstein Veblen (1899), who was one of the first sociologist and economists to systematically study the relationships between institutions and the transformative power of technological innovation, the paper reveals the pros and cons of the application of chosen technology innovations in financial services.
Authors and Affiliations
Emília Zimková
Keywords
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