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Fintech and the Art of Disruption

In: FinTech in Islamic Financial Institutions

Author

Listed:
  • Mustafa Raza Rabbani

    (College of Business administration, University of Bahrain)

  • M. Kabir Hassan

    (University of New Orleans)

  • Mohammad Dulal Miah

    (University of Nizwa)

  • Himani Grewal

    (Moradabad Institute of Technology)

Abstract

This chapter attempts to provide a comprehensive overview of the ongoing technological disruption in the finance world. There is no denying that technology has already brought disruption of unprecedented scale and type in terms of bringing innovative solutions like never seen before in the financial sector. The disruptive innovation like P2P lending, Crowdfunding, Cryptocurrency, Regtech, Insurtech mobile payment, etc. has changed the way traditional financial institutions used to operate. Against such a backdrop, this chapter attempts to provide an overview of this disruption. The chapter also explores how these innovations have brought changes in the working cultures among financial institutions. The study suggests, based on the analysis of facts and figures that the disruptive technology has brought positive changes in the society in terms of delivering valuable stimulus and financial aid to the vulnerable and affected by the COVID-19 pandemic. The findings of the study further suggest that the Fintech disruption has been a blessing in disguise for the overall growth and development of the finance community.

Suggested Citation

  • Mustafa Raza Rabbani & M. Kabir Hassan & Mohammad Dulal Miah & Himani Grewal, 2022. "Fintech and the Art of Disruption," Springer Books, in: M. Kabir Hassan & Mustafa Raza Rabbani & Mamunur Rashid (ed.), FinTech in Islamic Financial Institutions, pages 29-47, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-14941-2_2
    DOI: 10.1007/978-3-031-14941-2_2
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    Cited by:

    1. Chang, Vincent Y.L., 2023. "Do InsurTech startups disrupt the insurance industry?," Finance Research Letters, Elsevier, vol. 57(C).

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