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Emerging ideas for fintech applications in public finance

In: Research Handbook on Public Financial Management

Author

Listed:
  • Majid Bazarbash
  • Naomi Nakaguchi Griffin
  • Gerardo Una
  • Alok Verma

Abstract

Financial technology (fintech) is the innovative technology-driven provision of financial services that creates new opportunities to enhance the efficiency of delivering financial services and increasing access to financial services. This chapter studies how public finance, more specifically public financial management (PFM), could benefit from prudently incorporating fintech applications in the public sector. To set the stage, the authors first describe the ideas behind key private sector developments in fintech payments, credit, and investment. Next, they explore how fintech could be applied to improve treasury payments, revenue collections, public debt management, and public investment. Examples of early fintech applications in different countries are provided. Finally, the chapter discusses some of the benefits of fintech applications for strengthening fiscal transparency, enhancing macro-fiscal forecasting, improving budget planning and executions, and upgrading cash management. This chapter is one of the first attempts to systematically analyze the relationship between fintech applications and PFM processes.

Suggested Citation

  • Majid Bazarbash & Naomi Nakaguchi Griffin & Gerardo Una & Alok Verma, 2023. "Emerging ideas for fintech applications in public finance," Chapters, in: Komla Dzigbede & W. B. Hildreth (ed.), Research Handbook on Public Financial Management, chapter 3, pages 31-56, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20388_3
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800379718.00012
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