FinTech Innovations: A Review of the Recent Developments and Prospects

Benamraoui, A. and Aljandali, A. 2020. FinTech Innovations: A Review of the Recent Developments and Prospects. Bancaria. 12, pp. 85-95.

TitleFinTech Innovations: A Review of the Recent Developments and Prospects
TypeJournal article
AuthorsBenamraoui, A. and Aljandali, A.
Abstract

The dramatic surge of interest in FinTech over the past few years has highlighted the need for a better understanding of the value of technological innovations. In line with this reasoning FinTech has emerged as a mechanism that enables banking and nonbanking institutions to cut their costs, to enhance the quality of their services and to create a much more resilient and diverse financial environment. This FinTech development, which is supported by Artificial intelligence (Ai) and automation allows FinTech adopters to enter different segments of the financial services industry. However,despite the broad application of FinTech, little academic research has explored the development of this new wave of technological innovations. Therefore, our study aims to fill this gap in the literature and examines the recent developments in selected Fintech technologies including peer-to-peer financing, digital-only banks, machine learning and Ai, Blockchain, Robo-advice, InsurTech and RegTech. The paper also reviews the FinTech ecosystem including the impact of FinTech business models and their related, regulatory and non-regulatory, challenges.

KeywordsFinTech
FinTech Innovations
FinTech Ecosystem
Fintech Regulations
JournalBancaria
Journal citation12, pp. 85-95
ISSN0005-4623
2499-4472
Year2020
PublisherItalian Banking Association
Web address (URL)https://bancaria.it/en/livello-2/archive-2/last-summary/december-2020/fintech-innovations-a-review-of-the-recent-developments-and-prospects/
Publication dates
Published29 Dec 2020

Related outputs

Sharia boards, managerial strategies and governance practices in Islamic banks: a Goffmanesque discourse
Karbhari, Y, Benamraoui, A. and Hassan, A.F.S 2024. Sharia boards, managerial strategies and governance practices in Islamic banks: a Goffmanesque discourse. Accounting, Auditing & Accountability Journal. 37 (4), pp. 1069-1095. https://doi.org/10.1108/AAAJ-07-2017-3037

Islamic Banks’ Sharia Compliance Disclosure: An International Evidence
Benamraoui, A., Moussa, T. and Hussien, M. 2023. Islamic Banks’ Sharia Compliance Disclosure: An International Evidence. Accounting Research Journal. 36 (4/5), pp. 327-348. https://doi.org/10.1108/ARJ-07-2022-0157

VfM audit and the UK public sector: A critical review of the VfM reports
Benamraoui, A., Chatzivgeri, E., Jory, S.R. and Ajay, R. 2022. VfM audit and the UK public sector: A critical review of the VfM reports. Financial Accountability & Management. 40 (2), pp. 127-153. https://doi.org/10.1111/faam.12338

The UK Public Sector VfM Audit Expectations Gap: Evidence from the Informed Groups
Benamraoui, A., Alwardat, Y. and Karbhari, Y. 2022. The UK Public Sector VfM Audit Expectations Gap: Evidence from the Informed Groups. International Journal of Accounting, Auditing and Performance Evaluation. 18 (1), pp. 61-81. https://doi.org/10.1504/IJAAPE.2022.123307

Dynamic Capability and Strategic Corporate Social Responsibility Adoption: Evidence from China
Li, J., Benamraoui, A., Shah, N.S. and Mathew, S. 2021. Dynamic Capability and Strategic Corporate Social Responsibility Adoption: Evidence from China. Sustainability. 13 (10) e5333. https://doi.org/10.3390/su13105333

The World Economy and Islamic Economics in the Time of COVID-19
Benamraoui, A. 2021. The World Economy and Islamic Economics in the Time of COVID-19. Journal of King Abdulaziz University: Islamic Economics. 34 (1), pp. 67-78. https://doi.org/10.4197/Islec.34-1

An Empirical Investigation of the Regulatory and Non-Regulatory Challenges of the UK Islamic Retail Banking
Benamraoui, A., Boukrami, E., Dafgard, C. and Karbhari, Y. 2020. An Empirical Investigation of the Regulatory and Non-Regulatory Challenges of the UK Islamic Retail Banking. Journal of Islamic Business and Management. 10 (2), pp. 303-322.

The Effect of Block Ownership on Future Firm Value and Performance
Benamraoui, A., Jory, S.R., Mazouz, K., Shah, N.S. and Gough, O. 2019. The Effect of Block Ownership on Future Firm Value and Performance. The North American Journal of Economics and Finance. 50, p. 100982 100982. https://doi.org/10.1016/j.najef.2019.04.025

The Effects of Mergers and Acquisitions on Acquiring Banks’ Contribution to Systemic Risk
van Dellen, S., Benamraoui, A., Ngo, H. and Salaber, Julie 2019. The Effects of Mergers and Acquisitions on Acquiring Banks’ Contribution to Systemic Risk. 27th Edition of International Rome Conference on Money, Banking & Finance. Rome, Italy 10 - 11 Dec 2018

Are retailers “bagging” the carrier bag levy in England? An exploratory enquiry
Jory, S.R., Benamraoui, A., Madichie, N.O., Ruiz-Alba, J. and Christodoulou, I. 2019. Are retailers “bagging” the carrier bag levy in England? An exploratory enquiry. Journal of Environmental Management. 233, pp. 845-853. https://doi.org/10.1016/j.jenvman.2018.12.003

The effects of mergers and acquisitions on acquiring banks' contribution to systemic risk
Van Dellen, S., Benamraoui, A., Ngo, H. and Salaber, Julie 2018. The effects of mergers and acquisitions on acquiring banks' contribution to systemic risk. 11th Edition of International Risk Management Conference (Risk Society). Paris, France 07 - 08 Jun 2018

A comparative study between the UK and the USA house price indicators before and during the financial crisis of 2007-2009
Benamraoui, A. 2018. A comparative study between the UK and the USA house price indicators before and during the financial crisis of 2007-2009. Journal of Financial Economic Policy. 10 (4), pp. 456-472. https://doi.org/10.1108/JFEP-02-2018-0025

A Comparative Study of Islamic and Conventional Banks Risk Management Practices: Empirical Evidence from Pakistan
Rehman, A.A., Benamraoui, A. and Dad, A.M. 2018. A Comparative Study of Islamic and Conventional Banks Risk Management Practices: Empirical Evidence from Pakistan. Journal of Banking Regulation. 19 (3), pp. 222-235. https://doi.org/10.1057/s41261-017-0046-z

Stock price reaction to profit warnings: The role of time-varying betas
Yin, S., Mazouz, K., Benamraoui, A. and Saadouni, B. 2018. Stock price reaction to profit warnings: The role of time-varying betas. Review of Quantitative Finance and Accounting. 50 (1), pp. 67-93. https://doi.org/10.1007/s11156-017-0623-3

Islamic Banking Regulation and the Role of the Sharia Board: The UK Case Study
Benamraoui, A., Alwardat, Y.A. and Barton, U.A. 2016. Islamic Banking Regulation and the Role of the Sharia Board: The UK Case Study. Bancaria. June 2016 (6).

Value for Money and Audit Practice in the UK Public Sector
Alwardat, Y., Benamraoui, A. and Rieple, A. 2015. Value for Money and Audit Practice in the UK Public Sector. International Journal of Auditing. 19, p. 206–217. https://doi.org/10.1111/ijau.12037

Stimulating learning about social entrepreneurship through income generation projects
Chang, J., Benamraoui, A. and Rieple, A. 2014. Stimulating learning about social entrepreneurship through income generation projects. International Journal of Entrepreneurial Behaviour & Research . 20 (5), pp. 417-437. https://doi.org/10.1108/IJEBR-10-2012-0111

Learning-by-doing as an approach to teaching social entrepreneurship
Chang, J., Benamraoui, A. and Rieple, A. 2014. Learning-by-doing as an approach to teaching social entrepreneurship. Innovations in Education and Teaching International. 51 (5), pp. 459-471. https://doi.org/10.1080/14703297.2013.785251

A History of the Algerian Banking Industry 1830-2010
Benamraoui, A. and Boukrami, E. 2014. A History of the Algerian Banking Industry 1830-2010. New York, USA Edwin Mellen Press.

Causal relationships between financial markets: the case of Turkey
Benamraoui, A., Caglayan, E. and Yasgul, Y.S. 2010. Causal relationships between financial markets: the case of Turkey. Middle Eastern Finance and Economics. 6, pp. 41-49.

The real effect of the recent financial crisis on the UK housing price indicators
Benamraoui, A. 2010. The real effect of the recent financial crisis on the UK housing price indicators. International Journal of Arts and Sciences. 3 (13), pp. 255-266.

An analysis of foreign banks financial performance in the UK
Benamraoui, A. 2008. An analysis of foreign banks financial performance in the UK. Global Business & Economics Anthology. II, pp. 42-53.

Islamic banking: the case of Algeria
Benamraoui, A. 2008. Islamic banking: the case of Algeria. International Journal of Islamic and Middle Eastern Finance and Management. 1 (2), pp. 113-131. https://doi.org/10.1108/17538390810880973

Understanding the rules of financial innovations
Benamraoui, A. 2005. Understanding the rules of financial innovations. in: Proceedings of the Financial Markets Asia Pacific 2005 Conference Sydney, Australia University of Western Sydney.

Financial liberalisation: lessons from the literature on transitional economies
Benamraoui, A. 2005. Financial liberalisation: lessons from the literature on transitional economies. Third Conference on Accounting Finance in Transition. London, UK 13-16 Jul 2005

The effects of financial innovations and the Internet on the banking industry
Benamraoui, A. 2004. The effects of financial innovations and the Internet on the banking industry. London, UK European Business School. https://doi.org/Occasional&WorkingPaperSeriesno1

The effects of the Internet and financial innovation on the banking industry
Benamraoui, A. 2004. The effects of the Internet and financial innovation on the banking industry. Second Conference on Accounting Finance in Transition. Kavala, Greece 09-11 Jul 2004

Interest versus non-interest banking model
Benamraoui, A. 2004. Interest versus non-interest banking model. in: Sevic, Z. (ed.) Accounting and finance in transition London, UK Greenwich University Press.

Interest versus non-interest banking model
Benamraoui, A. 2003. Interest versus non-interest banking model. First Greenwich International West-East Conference "Accounting and Finance in Transition: European and Asian Experience and Public Policy Consideration". London, UK 10-12 Jul 2003

Developing countries and the challenge of globalisation of financial services
Benamraoui, A. 2002. Developing countries and the challenge of globalisation of financial services. in: Review of the International Institute of Labour and Social Sciences Minsk, Belarus UNKNOWN. pp. 458-472

Banking in transition, evidence from Algeria
Benamraoui, A. 2002. Banking in transition, evidence from Algeria. SEAG Annual Conference. London, UK 09 Sep 2002

Permalink - https://westminsterresearch.westminster.ac.uk/item/v3454/fintech-innovations-a-review-of-the-recent-developments-and-prospects


Restricted files

Publisher's version

Under embargo indefinitely

Share this

Usage statistics

599 total views
1 total downloads
These values cover views and downloads from WestminsterResearch and are for the period from September 2nd 2018, when this repository was created.