FinTech: An Introduction to the Opportunities and Challenges
Financial Technology (FinTech) is currently a matter of hot debate in the financial industry as the banking and finance sector embraces (or seek to embrace) technological innovations. FinTech provides significant opportunities in terms of (1) exploring new markets, (2) enhancing market participants’ interactions and (3) improving efficiency. Nonetheless, these new innovations come with challenges such as regulatory framework, political uncertainty, data security and tax implications.