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Pages:
5 pages/≈1375 words
Sources:
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Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Research Paper
Language:
English (U.S.)
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MS Word
Date:
Total cost:
$ 28.08
Topic:
FinTech in China and US
Research Paper Instructions:
Please did some research on FINTECH in China and US.
Write some research proposal and research paper to in-deep research on important issues in Fintech area.
Bring in charts and tables as you go along.
NEED TO SUMBIT ON THE Turnitin
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Research Paper Sample Content Preview:
Fintech in China and US
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Abstract
Fintech is one of the fastest-growing industries across the world. Fintech refers to the use of new technologies in the finance sector, such as mobile payment. More than 55 billion dollars have been invested in Fintech sector globally, and the figure is bound to increase as advancements in technology continue. Nevertheless, the Fintech industry differs per country, and this is particularly true for the two economic heavyweights, the United States and China. China is the leading country in the sector of Fintech and several factors such as high population, and low banking penetration have contributed to this growth. The current study examines different aspects of Fintech in the United States and China, such as emerging trends in Fintech, reasons why China is more successful in Fintech than the United States, merits of Fintech, effect of the US-China trade war on Fintech ventures and cybersecurity issues in Fintech.
Keywords: Fintech, Financial sector, China, United States, Technology,
Fintech in China and US
Fintech, which is stands for financial technology, refers to the use and development of financial technology systems to make financial transactions easier (Hernбndez, Цztьrk, Sittуn, & Rodrнguez, 2019). It is estimated that there have been more than 55 billion dollars invested in the Fintech industry globally, and the figure is poised to double given the increase in demographic trends in the world. China and the United States (US) have established some of the best financial technology systems in the world, as most developing countries look up to them for benchmarking. Various factors have driven the growth of Fintech in China and the US. Low levels of banking system penetration are one of the factors that have enhanced its adoption in both countries (Richman Centre News, 2019). The paper focuses on factors contributing to the growth of the Fintech industry in both China and the US, current issues in Fintech, and merits attributed to financial technology.
Demographic change is one of the main issues that has led to the explosive growth of Fintech in the world. For example, China has experienced a significant increase in its middle-class population, which demands more sophisticated and more uncomplicated financial services. The modern population demands easy and fast payment activities to wealth management (Richman Centre News, 2019). This has led to the development of mobile applications in conjunction with the banking systems to enable subscribers to make payments and withdrawals without necessarily going to the bank physically. In the United States, there has been more significant growth in Fintech companies.
Table 1: US Fintech top Firms (Kauflin, 2019)
Company NameCompany Value (billions)Stripe Company 225.5Coinbase Company8Robinhood Company 5.6
As shown in table 1, some of the biggest Fintech companies in the US include Stripe valued at 22.5 billion dollars, Coinbase at 8 billion dollars, and Robinhood Company valued at 5.6 billion according to Kauflin (2019). This is due to the demand that continues to expand by the day. It is also important to note that the increase in population has made i...
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