THE FINTECH REVOLUTION. BANKING FOR THE NEW GENERATION

SITEA Daria Maria, Lucian Blaga University of Sibiu

Abstract:
The financial world is developing in an accelerated way, whilst banks are struggling to protect their path, finding a new procedure to keep the customers. Millennials have a modern challenge: to combine successfully the long-established habits with digitalization. Emerging technologies put a mark on the reinvigorated banking system. FinTech is the key element that thoroughly remodels the financial business. Nowadays, Robo advisory is designed without human guidance, becoming progressively beloved worldwide. Thus, in the following research paper, the focus is on the evolving relationship between banks and FinTechs. Moreover, it is presented the importance of contactless technologies in the digital revolution. The outcomes reveal the interdependence between cybertechnology and banking system. Accordingly, the banks will flourish considering the technology impact.

Keywords: FinTech, Millennials, Digitalization, Banking System

JEL Classification: O10, G20

Volume: 71, Issue: 5

Pages: 78 - 88

Publication date: December, 2019

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/71507sitea.pdf

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