Research - How can the New Financial Technology that revolutionize the Traditional Financial Service and E-Commerce
Research Aim:
Under the 21st Century, the world of finance, particularly the banking sector, is undoubted most importance to the people of his lives. Traditional banking has changed significantly during the last century but, today, a new epoch of financial technology (hereafter called "FinTech) has emerged. "Fintech" is a rapidly expanding segment of the financial market that is receiving much attention from investors and increasing regulatory scrutiny.
The emergence of the "Fintech" is defined who is attracting the interest from new generations who are turning their backs on traditional players. The digital adjustment of the banking and financial sector at large is based on a move towards greater productivity through the use of new tools that reduce distribution costs.
Fintech provides alternative solutions and business models that could render traditional banking processes obsolete. Financial sector creates a massive amount of data exploiting by Fintech companies that are using to segment customer populations, identify opportunities for new products and services and optimize pricing. In this segment, products may use data and analytics to computerize the decision- making processes. Innovative start-ups, retailers, established banks, card companies and other payment services providers are the Payment systems that underpin the services that enable funds to be transferred between people and institutions. For the financial system (banking), Fintech offers sustainable and realistic opportunities by enhancing the value proposition and driving sales, reducing operating costs, making easy access to loans, and lowering interest rates. After showing the advantages of using Fintech services, the findings are that Fintech could improve both financial services and access to services in the West African economy.
Research Objectives (between 2 and 4):
1) Analysis Fintech and Traditional Financial Product
2) Regulators are wariness of innovation in finance is attributed to the fact that periods of rapid financial innovation are typically followed by crises
3) Engaging new players is increasingly important as they lead innovation in new financial technology.
4) The Improvement for the traditional to e-commerce.
4. Key Literature; Models & Theories (the Theoretical/Conceptual Framework):
Regard on this research, we will dividable into two subject, the first topic is "how the fintech revolted the traditional financial service" and the second is "how the fintech improve the e-commerce", the search theories will use the Explain Phenomena and the analyse and compare the products by using the following keywords : -
Banking, Fintech Revolution, Financial Services, Relationship, Innovation, Popular press and Security
5. Research Methodology
Secondary Research Data, there was no methodology and reference stated.
6. Time Line of Dissertation
From March to May to complete the objective no. 1)
From June to July to complete the objective no. 2)
From August to September to complete the objective no. 3
From October to November to complete the objective no. 4.)
From December to January to complete the paper
At February to check and finalize the paper.
Around 10 months to finish the research material and one month for finalize the paper.