| Fintech, Financial Industry, and Policy Implications |
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Kang Jin Ju, Min Hwa Lee, Hee Jin Yang, Doo Jin Ryu |
| 핀테크 산업의 발전방향에 관한 연구 |
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주강진, 이민화, 양희진, 류두진 |
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| Abstract |
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Fintech, which is a combination of financial services and IT, is expanding to various fields. This is primarily attributable to the immense potential it contains for both IT and finance. Realizing that such potential can be key to increasing competitive capabilities, governments worldwide are making their best efforts to establishing policies to nurture the Fintech industry. The Korean government has also realized the significance of Fintech and is trying to implement appropriate policies. Nevertheless, the Korean Fintech industry is far behind that of the United States (US), the United Kingdom (UK), and even China. This study tries to reflect this reality and diagnose the weaknesses of the Korean Fintech industry by analyzing these foreign cases. Analyzing both domestic and foreign cases, our findings indicate that innovative regulation improvement seems urgent. Furthermore, network-platforms that can satisfy customer needs and provide differentiated financial services need to be established, because the establishment of platforms through open information is indispensable for a successful Fintech industry. Finally, the big data dominated by large firms need to be shared publically by building up a complementary ecosystem to accompany the development of a big data platform. |
| Key Words:
Information Technology IT,IT기술,Platform,금융산업,금융정책,플랫폼,Regulatory Reform,핀테크,Financial Industry,Fintech |
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