| Abstract [eng] |
The thesis consists of 78 pages, 15 tables, 29 pictures, 80 references. The main goal of this master's thesis is, having analyzed the FinTech ecosystem, to perform a qualitative and quantitative assessment of the interaction between the banking sector and financial technology companies in Lithuania. Given the recent unprecedented situation of the global COVID-19 pandemic, it was decided to assess its impact on the global FinTech sector as well. The paper investigates the interaction between the banking sector, and FinTech companies in Lithuania. The work consists of three main parts: the analysis of the literature, the research with its results, the conclusion and recommendations. The following research methods were used: comparative analysis and synthesis of scientific literature, systematization of information, statistical analysis and interpretation, graphical modeling, SWOT and PESTEL analyzes, statistical data, and correlation-regression analysis. The literature review analyzes the conceptual aspects of FinTech: the differences between financial innovation and FinTech are highlighted, the FinTech ecosystem is described, the areas of activity of financial technology companies are indicated, the global FinTech adaptation index is analyzed, and the advantages and disadvantages of financial technology companies compared to the banking sector are emphasized as well. The study revealed that there is an interaction between the banking sector and FinTech companies in Lithuania: improving banking performance indicators encourage the emergence of new FinTech companies. This means that FinTech companies complement traditional financial institutions in the market and work together to better meet customer needs. In order to properly assess the events of the recent situation, an analysis of the impact of COVID-19 on the global FinTech sector was performed, which revealed that the COVID-19 pandemic initially caused difficulties for FinTech market participants, but the situation recovered and returned very quickly to its prepandemic state. In the last part of the work, based on the research, conclusions and suggestions are presented and the main observations from the literature analysis are summarized. In addition, the author formulates recommendations for the banking sector, on the basis of which it could maintain competitiveness against financial technology companies, and indicates further possible directions of research. |
