The Impact of Technologic Innovation on Business in the Financial-Banking Field

• Main Author: Claudia Isac
• Format: Article
• Language: English
• Published: Ovidius University Press 2019-01-01
• Series: Ovidius University Annals: Economic Sciences Series
• Subjects: fintech; financial-banking field; technologic innovation; online banking system
• Online Access: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2020/02/Section%20II/8.pdf

The innovation in the financial-banking field is determined by the progress of the IT technology, therefore in this paper we have identified several variables that corroborate the identification and development of a particular field, respectively the Fintech field. Being approached from the perspective of business development but also as a consequence of the quickening development of online tools, Fintech is a reality and a direct consequence of the entrepreneurial skills of some innovators of the younger generations. Thus, after a presentation of the Fintech aspects, we synthetically addressed the legal regulations in the field and the specific security instruments. At the end of the paper I showed what the specific elements of the development of the online banking system are and synthesized the advantages of the functioning of such banking institutions.