| Abstract [eng] |
56 pages, 2 figures, 18 tables, 42 references. The main objective of this master's thesis is to identify the factors determining the development of the financial technology market. The first theoretical part of the thesis describes the concept of financial technology, analyzes the factors determining the development of the financial technology market, and discusses studies that reveal the methods and indicators used to assess the factors determining the development of financial technology. The second part of the paper presents the research methodology and indicators. The third part of the paper presents the results of the research. After analyzing the factors determining the development of the financial technology market and reviewing the studies presenting the methods for assessing the development of the financial technology market, it was established that the development of the financial technology market is determined by economic, social, demographic factors, and the country's technological progress. The development of the financial technology market is also influenced by digital infrastructure, which enables the implementation of innovative solutions, financial literacy among the public, and trust in innovative financial solutions. An analysis of the FinTech market in the Baltic countries revealed that Estonia remains the leader in terms of the concentration and stability of FinTech companies, Lithuania is characterized by rapid but more volatile growth in the sector, while in Latvia the FinTech sector is smaller and more unstable. Correlation analysis showed that GDP, bank ROE, and the share of internet users have a statistically significant positive correlation with the number of FinTech companies. This means that FinTech development is closely linked to the size of the economy, the efficiency of the financial system, and the development of the digital environment. The study found that the main drivers of FinTech market development in the Baltic countries are the size of the economy, the return on equity of the banking sector, and the digital activity of the population, while indicators of innovation and macroeconomic instability have no direct impact. |
