Fintech, Insurtech, Regtech Industries and their Impact on the Global Financial System: Chapter 2

Abstract

The given study focuses on the business models introduced by Fintech, Regtech and Insurtech industries developed globally, the technologies behind these startups and the impact of their global application on the financial-banking system. The digitisation of the economy has for years been the driver of progress and efficiency for many industry sectors. The global financial crisis of 2008 has spurred the digital transition, particularly in the financial sector, where technologies have paved the way for sustainable development and social sustainability. This phenomenon has been intensified by the spread of the Covid-19 pandemic, which has emphasised the need for digital transformation in many sectors of the economy.