Fintech in Europe and Central Asia: Maximizing Benefits and Managing Risks

doi:10.1596/33591

Publication:
Fintech in Europe and Central Asia: Maximizing Benefits and Managing Risks

dc.contributor.author	Berg, Gunhild
dc.contributor.author	Guadamillas, Mario
dc.contributor.author	Natarajan, Harish
dc.contributor.author	Sarkar, Arpita
dc.date.accessioned	2020-04-14T20:14:38Z
dc.date.available	2020-04-14T20:14:38Z
dc.date.issued	2020-02
dc.description.abstract	FinTech has tremendous potential in the Europe & Central Asia (ECA) region, given its high mobile phone and internet access levels and scope for increased use of digital payments. However, there are major regional differences between high-income and middle-income countries regarding access to technology, FinTech adoption, and regulatory capacity. This paper analyzes the opportunities and risks related to FinTech in the ECA region, focusing on these three key financial sector challenges: (i) high costs of international remittances, (ii) inefficiencies in the provision of domestic payments, and (iii) low levels of MSME's access to finance. It also analyzes the level of FinTech development in the region, and delves into the state of FinTech policy, regulation and supervision in the region along with an analysis of reform needs. Finally, this paper touches upon the role for international public policy coordination related to FinTech generally, with a focus on the ECA region.	en
dc.identifier	http://documents.worldbank.org/curated/en/640021585934004225/Fintech-in-Europe-and-Central-Asia-Maximizing-Benefits-and-Managing-Risks
dc.identifier.doi	10.1596/33591
dc.identifier.uri	https://hdl.handle.net/10986/33591
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Fintech Note,no. 4;
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	FINANCIAL TECHNOLOGY
dc.subject	FINTECH
dc.subject	REMITTANCES
dc.subject	ACCESS TO FINANCE
dc.subject	MICROENTERPRISES
dc.subject	SMALL AND MEDIUM-SIZED ENTERPRISES
dc.subject	MSME FINANCE
dc.subject	REGULATION
dc.subject	PUBLIC POLICY
dc.subject	RISKS
dc.title	Fintech in Europe and Central Asia	en
dc.title.subtitle	Maximizing Benefits and Managing Risks	en
dc.type	Working Paper	en
dc.type	Document de travail	fr
dc.type	Documento de trabajo	es
dspace.entity.type	Publication
okr.crossref.title	Fintech in Europe and Central Asia
okr.date.disclosure	2020-04-03
okr.doctype	Publications & Research
okr.doctype	Publications & Research::Working Paper
okr.docurl	http://documents.worldbank.org/curated/en/640021585934004225/Fintech-in-Europe-and-Central-Asia-Maximizing-Benefits-and-Managing-Risks
okr.guid	640021585934004225
okr.identifier.doi	10.1596/33591
okr.identifier.externaldocumentum	090224b0877b8fb6_1_0
okr.identifier.internaldocumentum	31928314
okr.identifier.report	147346
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/640021585934004225/pdf/Fintech-in-Europe-and-Central-Asia-Maximizing-Benefits-and-Managing-Risks.pdf	en
okr.region.administrative	Europe and Central Asia
okr.region.geographical	Central Asia
okr.region.geographical	Eastern Europe
okr.region.geographical	Europe and Central Asia
okr.topic	Finance and Financial Sector Development::E-Finance and E-Security
okr.topic	Finance and Financial Sector Development::Finance and Development
okr.topic	Finance and Financial Sector Development::Financial Regulation & Supervision
okr.topic	Finance and Financial Sector Development::Financial Structures
okr.topic	Information and Communication Technologies::ICT Applications
okr.topic	Information and Communication Technologies::Information Security & Privacy