| Abstract |
The title of the thesis is “Importance of Fintech for Economic Development,” and Madina Junissova is the thesis author. The scientific supervisor is Maija Šenfelde.
In the modern world, the way traditional banking operates has changed, thanks to the implementation of financial technologies in the banking sector. Fintech, or financial technologies, encompasses cutting-edge technologies such as blockchain, AI, and ML, crowdfunding, digital currencies, peer-to-peer lending technologies, as well as open banking and open API, among others. The development of fintech technologies is diversified worldwide; some countries highlight digital lending, while e-banking is the main focus in the majority of countries. Moreover, fintech is a key factor in the development of the banking sector, leading to an increase in the domestic competitiveness of banks and making a significant impact on economic development.
The work attempts to identify the impact of fintech on the banking industry, as well as its importance for economic development. The research is limited to the Republic of Kazakhstan. The research findings from conducted interviews, as well as the analysis, will show that the banking industry is positively impacted by the implementation of financial technologies.
The thesis includes 84 pages, 11 tables, 39 figures, and 100 sources of reference. |
