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Financial Services

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Globalization, Competitiveness, and Governability
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Abstract

FinTech, an acronym for financial technology, can be considered a byproduct of globalization and technology. The higher number of cross border transactions created the need for systems that can facilitate the same and are secure. This gave rise to FinTech companies, who provide technical financial services. Thus, it is the new and bold world of finance, fueled by globalization and driven by train.

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Notes

  1. 1.

    See ACI Universal. The New Payments Ecoysystem. https://www.aciworldwide.com/-/media/files/collateral/trends/the-new-payments-ecosystem-disruption-ebook-banks.pdf; Bansal, Sukriti, Phil Bruno, Grace Hou, Florent Istace, and Marc Niederkorn. (2015). How the Payments Industry Is Being Disrupted. McKinsey Quarterly, November; and Beall, George. How the Payments Industry Is Being Disrupted. The Next Web. https://thenextweb.com/contributors/2017/11/05/payment-technology-disrupted/.

  2. 2.

    Lund, Susan, Eckart Windhagen, James Manyika, Philipp Härle, Jonathan Woetzel, and Diana Goldshtein. (2017). The New Dynamics of Financial Globalization. McKinsey Global Institute. McKinesy & Company, August.

  3. 3.

    Tysiac, Ken. How Regulatory Challenges Are Affecting Financial Services Industry. Finance and Treasury. Financial Management Magazine. Full article available at: https://www.fm-magazine.com/news/2013/jul/20138297.html.

  4. 4.

    Stephens, Maria. 2011. The Role of Government in Mobile Financial Services. The Consultative Group to Assist the Poor (CGAP), September. Full article available at: https://www.cgap.org/blog/role-government-mobile-financial-services.

  5. 5.

    World Bank . (2016). Development Goals in an Era of Demographic Change. Washington, DC: World Bank Group.

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Correspondence to Ricardo Ernst .

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Ernst, R., Haar, J. (2019). Financial Services. In: Globalization, Competitiveness, and Governability. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-17516-0_7

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