Financial Technology Implications

Abstract

The chapter examines the particularities of the financial technology industry and explores how FinTech is defined and how the financial technology solutions can be implemented by companies and categorized. Financial technology companies are generally start-ups founded with the purpose of disrupting financial systems and corporations that rely less on software. But Fintech is not confined to start-ups only. Fintech comprises a vessel of technical aspects that describes an emerging financial services sector in the 21st century. The chapter aims to provide key insights into the evolution of the FinTech sector in emerging markets like ASEAN and India by and industry experience in this area. Both industry survey reports and peer-reviewed research is used as secondary data. The critical challenges to be addressed at the policy level, regional differences and future implications are being discussed thereby creating bridges the FinTech in ASEAN context to create a coherent framework.