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Technology-Driven Innovations in Financial Services: The Rise of Alternative Finance

Lech Gąsiorkiewicz

Lech Gąsiorkiewicz

Warsaw University of Technology, Faculty of ManagementWarsaw, POLAND
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Gąsiorkiewicz, Lech
, 
Jan Monkiewicz

Jan Monkiewicz

Warsaw University of Technology, Faculty of ManagementWarsaw, POLAND
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Monkiewicz, Jan
 and 
Marek Monkiewicz

Marek Monkiewicz

Main School of Commerce, Institute of Risk and InsuranceWarsaw, POLAND
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Monkiewicz, Marek
  
Oct 17, 2020
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Published Online: Oct 17, 2020
Page range: 137 - 150
DOI: https://doi.org/10.2478/fman-2020-0011
Keywords
© 2020 Lech Gąsiorkiewicz et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Figure 1

FinTech tree: a taxonomy of the FinTech components(Source:BIS, 2020, p.7)
FinTech tree: a taxonomy of the FinTech components(Source:BIS, 2020, p.7)

Figure 2

Financial services in Big tech portfolio (Source:BIS, 2019, p.56)
Financial services in Big tech portfolio (Source:BIS, 2019, p.56)

Figure 3

Stock market capitalization of Big tech versus major financial groups (Source:FSB, 2019, p.4)
Stock market capitalization of Big tech versus major financial groups (Source:FSB, 2019, p.4)

Figure 4

Traditional IT compared to cloud computing (Source:US Department of Treasury, 2018, p.46)
Traditional IT compared to cloud computing (Source:US Department of Treasury, 2018, p.46)

Figure 5

Interactions between AI, machine learning, and Big Data analytics (Source:Kabza, 2020)
Interactions between AI, machine learning, and Big Data analytics (Source:Kabza, 2020)

Figure 6

Frequency of cybersecurity incidents in finance (number of events)(Source:IMF, 2020, p.15)Note:1Number of cybersecurity incidents from international data collected by Advisen and approximately transcribed from the Bank of Canada's 2019 Financial System Review.
Frequency of cybersecurity incidents in finance (number of events)(Source:IMF, 2020, p.15)Note:1Number of cybersecurity incidents from international data collected by Advisen and approximately transcribed from the Bank of Canada's 2019 Financial System Review.

Figure 7

Cyber risk and systemic risk (Source:IMF, 2020, p.9)
Cyber risk and systemic risk (Source:IMF, 2020, p.9)
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Computer Sciences, Business Computing, Business and Economics, Business Management, Management Accounting, Financial Controlling, Cost Calculation, Investment
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