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The Fintech revolution and its role in the development of the small and medium-sized enterprises

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dc.contributor.author Erhan, Lica
dc.date.accessioned 2022-04-06T11:55:16Z
dc.date.available 2022-04-06T11:55:16Z
dc.date.issued 2022
dc.identifier.isbn 978-9975-155-73-1
dc.identifier.uri https://irek.ase.md:443/xmlui/handle/123456789/1910
dc.description ERHAN, Lica. The Fintech revolution and its role in the development of the small and medium-sized enterprises = Revoluția Fintech și rolul ei în dezvoltarea sectorului întreprinderilor mici și mijlocii. In: Economic Security in the Context of Sustainable Development [online]: The collection of the Online International Scientific-Practical Conference, 2nd Edition, December 17, 2021. Chişinău: ASEM, 2022, pp. 144-148. ISBN 978-9975-155-73-1. en_US
dc.description.abstract We are passing through the Era of digital revolutions, and digital innovation is inevitably leaving its mark on the transformations of the economy. An example of these transformations is financial technology, also known as Fintech, which has established itself in a relatively short time as a revolutionary and emerging industry that uses technology to improve its financial activities and services. The Fintech revolution was imposed by a large number of technological innovations in a short time, materialized by the emergence of artificial intelligence, cloud computing services and distributed registry technology. These led to new innovative opportunities, such as mobile payments, open banking services, crowdfunding, cryptocurrencies and automated counseling. Thus, the impact of financial technologies on the business ecosystem is becoming increasingly felt, and an active beneficiary of Fintech innovations in this ecosystem are small and medium-sized enterprises (SMEs). Small and medium-sized businesses are the driving force behind economies around the world, and digital innovation is paving the way for SMEs to have access to improved financial services. The Fintech industry can generate significant benefits for the SMEs sector, resulting in lower costs, as well as increased efficiency and transparency of transactions. New advanced technologies bring significant benefits to small businesses through cheaper access to innovative financial products, thus increasing the level of financial inclusion of these entities. At the same time, new financial technologies are launching a series of challenges both in the fields of legislative regulation and financial education. JEL: F65; G20. en_US
dc.language.iso en en_US
dc.publisher ASEM en_US
dc.subject financial technology en_US
dc.subject digital innovations en_US
dc.subject small and medium enterprises en_US
dc.subject inclusion en_US
dc.subject security en_US
dc.subject financial education en_US
dc.title The Fintech revolution and its role in the development of the small and medium-sized enterprises en_US
dc.title.alternative Revoluția Fintech și rolul ei în dezvoltarea sectorului întreprinderilor mici și mijlocii en_US
dc.type Article en_US


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