Published August 23, 2023
| Version v1
Journal article
Open
Impact of Fintech on The Banking Industry in UK and Europe
Description
This study examines crucial financial performance metrics in European banks that have been impacted by FinTech integration, such as Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). The findings indicate that the adoption, profitability, and efficiency of FinTech vary significantly across various countries and organizations. This in-depth study emphasizes the critical role that technology will play in defining the future course of the banking sector by fostering innovation, client loyalty, and financial success. This study examines the ways in which financial technology (FinTech) has altered the banking sector in the UK and across Europe. It looks at the entire range of FinTech advancements used in banking, such as mobile apps, electronic payments, AI advisors, blockchain, and more. The study used a mixed-methods research technique, including qualitative interviews and survey results, to fully investigate the effects of FinTech on financial institutions and customer behavior. The research evaluates the collaborations, FinTech efforts, and new digital customer acquisitions of well-known UK banks, looking at their growth and investment criteria.
Files
2308087_187950_539_548.pdf
Files
(717.8 kB)
| Name | Size | Download all |
|---|---|---|
|
md5:098b9278ab2ae7713a21f276735b7238
|
717.8 kB | Preview Download |
Additional details
References
- Timonen, K., 2022. The impact of fintech on the banking industry.https://lutpub.lut.fi/bitstream/handle/10024/163719/Kandidaatintutkielma_Katariina_Timonen.pdf?se quence=1 2. Wang, Y., Xiuping, S. and Zhang, Q., 2021. Can fintech improve the efficiency of commercial banks?—an analysis based on big data. Research in international business and finance, 55, p.101338. https://www.sciencedirect.com/science/article/pii/S0275531920309466 3. Seek, M. and Sutanto, A., 2019, August. Impact analysis of fintech on banking industry. In 2019 international conference on information management and technology (ICIMTech) (Vol. 1, pp. 356-361). IEEE. https://ieeexplore.ieee.org/abstract/document/8843778/4. Kong, Y., Research on the Impact of Fintech on the Profitability of Commercial Banks. https://www.clausiuspress.com/conferences/LNEMSS/WTED%202022/Y0879.pdf 5. Kothari, S., 2021. Fintech's Impact on Economics Structure of India's banking. Webology, 18(1) 6. Zuhroh, I., 2021. The impact of Fintech on Islamic banking and the collaboration model: a systematic review studies in Indonesia. Jurnal Perspektif Pembiayaan Dan Pembangunan Daerah, 9(4), pp.301-312. https://online-journal.unja.ac.id/JES/article/download/12054/12387 7. dos Santos Rua, C., 2022. The Impact of Fintech in the Performance of European Banks. https://repositorioaberto.up.pt/bitstream/10216/142961/2/572924.pdf 8. Al-Matari, E.M., Mgammal, M.H., Alosaimi, M.H., Alruwaili, T.F. and Al-Bogami, S., 2022. Fintech, board of directors and corporate performance in Saudi Arabia financial sector: Empirical study. Sustainability, 14(17), p.10750. https://www.mdpi.com/2071-1050/14/17/10750/pdf 9. B. Muzyka, "FinTech and Banking: Impact on banks future — TechMagic," Blog | TechMagic, Jul. 2023, https://www.techmagic.co/blog/fintech-and-banking/ 10. "The disruptive impact of new technology on the banking industry," World Economic Forum, May 20, 2022, https://www.weforum.org/agenda/2019/09/disruptive-impact-new-technology-banking-industry/ 11. O. Williams-Grut, "Bank of England: Fintech competition could cut banks' profits by £1 billion," Insider, Nov. 28, 2017. https://www.insider.com/bank-of-england-stress-test-impact-of-fintech-on-banks-2017-11 12. M. Siek and A. Sutanto, "Impact Analysis of Fintech on Banking Industry," 2019 International Conference on Information Management and Technology (ICIMTech), Jakarta/Bali, Indonesia, 2019, pp. 356-361, doi: 10.1109/ICIMTech.2019.8843778. https://ieeexplore.ieee.org/abstract/document/8843778/ 13. A. A. Al-Naimi, S. Al Abed, U. Farooq, G. Qasaimeh and M. A. Alnaimat, "Impact of Open Banking Strategy and Fintech on Digital Transformation," 2023 International Conference on Business Analytics for Technology and Security (ICBATS), Dubai, United Arab Emirates, 2023, pp. 1-5, doi: 10.1109/ICBATS57792.2023.10111137. https://ieeexplore.ieee.org/abstract/document/10111137/ 14. H. A. Almahadin, M. Shehadeh, A. S. Al-Gasaymeh, I. A. Abu-AlSondos and A. A. B. Atta, "Impact of Blockchain Technology and Fintech on Sustainable Performance," 2023 International Conference on Business Analytics for Technology and Security (ICBATS), Dubai, United Arab Emirates, 2023, pp. 1-5, doi: 10.1109/ICBATS57792.2023.10111313. https://ieeexplore.ieee.org/abstract/document/10111313/ 15. A. K. M. J. K. Kothari Praveen Singh, Archana, Megha Ojha, Ms Smita, "Fintech's impact on economics structure of India's banking," 2021, https://webology.org/abstract.php?id=3605 16. The UK FinTech landscape," Deloitte United Kingdom. https://www2.deloitte.com/uk/en/pages/financialservices/articles/uk-fintech-landscape.html 17. Chen, X., You, X. and Chang, V., 2021. FinTech and Commercial Banks' Performance in China: The Current Status and Lessons Learned from Our Data Analysis. FEMIB, pp.33-44. https://www.scitepress.org/Papers/2021/104835/104835.pdf 18. "What is the importance of return on equity for banks?," Smart Capital Mind, Aug. 2023, https://www.smartcapitalmind.com/what-is-the-importance-of-return-on-equity-for-banks.htm 19. FreshBooks, "Net Interest Margin: Definition, Formula & Examples," FreshBooks, Feb. 23, 2023. https://www.freshbooks.com/glossary/small-business/net-interest-margin 20. Ariza-Garzón, M.J., Arroyo, J., Caparrini, A. and Segovia-Vargas, M.J., 2020. Explainability of a machine learning granting scoring model in peer-to-peer lending. Ieee Access, 8, pp.64873-64890. https://ieeexplore.ieee.org/iel7/6287639/6514899/09050779.pdf 21. Chao, X., Ran, Q., Chen, J., Li, T., Qian, Q. and Ergu, D., 2022. Regulatory technology (Reg-Tech) in financial stability supervision: Taxonomy, key methods, applications and future directions. International Review of Financial Analysis, 80, p.102023. https://www.sciencedirect.com/science/article/pii/S1057521922000035 22. Ghandeharioun, A., McDuff, D., Czerwinski, M. and Rowan, K., 2019, September. Towards understanding emotional intelligence for behavior change chatbots. In 2019 8th International Conference on Affective Computing and Intelligent Interaction (ACII) (pp. 8-14). IEEE. https://arxiv.org/pdf/1907.10664 23. de Freitas Pereira, T. and Marcel, S., 2021. Fairness in biometrics: a figure of merit to assess biometric verification systems. IEEE Transactions on Biometrics, Behavior, and Identity Science, 4(1), pp.19-29. https://ieeexplore.ieee.org/iel7/8423754/8599058/09507539.pdf 24. A. Demirguc-Kunt, Financial structure and bank profitability. 2000. doi: 10.1596/1813-9450-2430. https://openknowledge.worldbank.org/server/api/core/bitstreams/222d9df1-be3a-5714-839b6f21c5987caf/conten