|Ultima descărcare din IBN:|
| SM ISO690:2012|
ERHAN, Lica. The fintech revolution and its role in the development of the small and medium-sized enterprises. In: The Collection. Economic security in the context of sustenable development. 2, 17 decembrie 2021, Chisinau. Chişinău: ASEM, 2022, pp. 144-148. ISBN 978-9975-155-73-1.
Conferința "Economic security in the context of sustenable development" |
Chisinau, Moldova, 17 decembrie 2021
|JEL: F65; G20|
We are passing through the Era of digital revolutions, and digital innovation is inevitably leaving its mark on the transformations of the economy. An example of these transformations is financial technology, also known as Fintech, which has established itself in a relatively short time as a revolutionary and emerging industry that uses technology to improve its financial activities and services. The Fintech revolution was imposed by a large number of technological innovations in a short time, materialized by the emergence of artificial intelligence, cloud computing services and distributed registry technology. These led to new innovative opportunities, such as mobile payments, open banking services, crowdfunding, cryptocurrencies and automated counseling. Thus, the impact of financial technologies on the business ecosystem is becoming increasingly felt, and an active beneficiary of Fintech innovations in this ecosystem are small and medium-sized enterprises (SMEs). Small and medium-sized businesses are the driving force behind economies around the world, and digital innovation is paving the way for SMEs to have access to improved financial services. The Fintech industry can generate significant benefits for the SMEs sector, resulting in lower costs, as well as increased efficiency and transparency of transactions. New advanced technologies bring significant benefits to small businesses through cheaper access to innovative financial products, thus increasing the level of financial inclusion of these entities. At the same time, new financial technologies are launching a series of challenges both in the fields of legislative regulation and financial education.
financial technology, digital innovations, Small and Medium Enterprises, inclusion, Security, Financial education