Advances, Systems and Applications
Table 1 The Phase of Fintech Evolution from the Study of Arner in [8]
From: Fintech application on banking stability using Big Data of an emerging economy
Fintech Progression | ||||
|---|---|---|---|---|
Evolution | First Wave | Second Wave | ||
Era | 1866–1967 | 1967–2007 | 2008-Present | |
Geography | Global / Developed countries | Global / Developed countries | Developed countries | Emerging / Developed countries |
Key elements | Infrastructure / computerisation | Traditional / internet | Mobile / Start-ups / New entrants | |
Shift Origin | Linkages | Digitalization | 2008 Financial Crisis/Smartphone | Last Mover Advantage |