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Innovations In Digital Finance

Author

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  • MANTA, Otilia Elena

    (“Victor Slăvescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest, Romania)

Abstract

It is a fact that today we are confronted with the extraordinary impact that digitization plays in developing financial innovations, more precisely, we can say digital finance innovations. We must emphasize that social inclusion and financial progress are the results of the digital sector's digitization trend with a major impact on the work of financial and non-banking institutions. The creation of new distribution models (external agent networks, banks without the branch network), the emergence of new customer access opportunities and back office management are just a few of the financial sector challenges that are in the process continuous innovation and adaptation. The Fintech phenomenon has created new opportunities for customers, namely the rapid identification of financing for the development of their own businesses and the high flexibility of the award conditions. The use of this tool should become more concrete and consistent in Romania, and customers should be educated to master new digital tools. There is no doubt that there is a revolution! In the context of the financial crisis, microfinance continues to grow, providing new digital opportunities for new generation.

Suggested Citation

  • MANTA, Otilia Elena, 2017. "Innovations In Digital Finance," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 4(1), pages 275-279.
    • Handle: RePEc:vls:rojfme:v:4:y:2017:i:1:p:275-279
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    References listed on IDEAS

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    Cited by:

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    More about this item

    Keywords

    digital finance; fintech; sustainable development; innovation;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

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