IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-981-96-4116-1_77.html
   My bibliography  Save this book chapter

Challenges of Financial Technologies in Relation to the Financial and Economic Development in Context of Global FinTech Indexes

Author

Listed:
  • Dana Kiseľáková

    (University of Prešov in Prešov)

  • Martina Košíková

    (University of Prešov in Prešov)

Abstract

In the context of sustainable digital evolution, the financial sector is changing under the influence of financial technologies, which bring new service models and innovations. This research provides evidence of the positive impact of FinTech on financial development, while also identifying challenges such as regulation and the availability of a skilled workforce. The aim of this study is to examine the impact of financial technologies (FinTech) on financial development in European countries, using the Global FinTech Index and the Financial Development Index, taking into account the attractiveness of business in the global environment. The study investigates the relationship between financial technologies and financial development in 32 European countries, along with Turkey, Cyprus, and Georgia. Pearson's correlation coefficient was used to assess the significance of the relationship between the FinTech index and the Financial Development Index. The study also utilized a bibliometric analysis of research in the field of FinTech, examining trends and cooperation between countries in FinTech research. The analysis shows that that FinTech has a fundamental impact on financial markets, traditional banking models, and supports financial inclusion and innovative approaches in the sector. Countries with a higher ranking on the FinTech index, such as the United Kingdom and Switzerland, also demonstrate a higher index of financial development, while lower-ranked countries such as Slovakia and Belarus lag behind. The findings can serve as a basis for creating policies and strategies to support the further development of the FinTech sector in Europe.

Suggested Citation

  • Dana Kiseľáková & Martina Košíková, 2025. "Challenges of Financial Technologies in Relation to the Financial and Economic Development in Context of Global FinTech Indexes," Springer Proceedings in Business and Economics,, Springer.
    • Handle: RePEc:spr:prbchp:978-981-96-4116-1_77
    DOI: 10.1007/978-981-96-4116-1_77
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-981-96-4116-1_77. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.