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The Fintech Revolution. Banking For The New Generation

Author

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  • 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.

Suggested Citation

  • SITEA Daria Maria, 2019. "The Fintech Revolution. Banking For The New Generation," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 71(5), pages 77-87, December.
    • Handle: RePEc:blg:reveco:v:71:y:2019:i:5:p:77-87
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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/71507sitea.pdf
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    More about this item

    Keywords

    FinTech; Millennials; Digitalization; Banking System;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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