FinTech – digitalisation and culture
A recently discussed thesis provides the key elements to understand the final frontier of finance
Digitalisation – first in production and then in financial operations. Driven by innovation, digitalisation has long caused several processes to become virtual, including banking and financial ones, thus also changing the production culture typical of Italian industry and enterprises. A topic that needs to be fully understood and whose evolutions must be followed with care. Alessandro Silvestrini’s research paper (then turned into a thesis discussed at the Marche Polytechnic University, “Giorgio Fuà” Faculty of Economics), entitled “FinTech: un focus sulla situazione italiana” (“FinTech: focus on the Italian situation”), aims, as summarised by the author, “to analyse and explore from different perspectives the technological transformation that has affected the financial industry, a phenomenon of such proportions that a new term has been coined to describe it: FinTech (Financial Technology).” Starting with an observation: in recent years, the digital revolution has deeply transformed all sectors of the global economy, starting with commerce and telecommunications, and up to the financial sphere – this is the focus of Silvestrini’s research.
The paper is structured into three sections. First of all, the concept of FinTech is clarified, also taking into consideration its legal aspects, then follows an investigation of the innovations in financial services that FinTech has made possible, and finally the author takes stock of the situation in Italy.
In his conclusion, Silvestrini writes that, “The most likely scenario seems to be that of “fintegration”, that is, a framework that will see partnerships between traditional players and innovative enterprises, which rather than fiercely compete with each other will favour collaboration, in order to benefit the whole system.” An approach that also entails a cultural change in the way businesses interact, but that may still come at some costs: as Silvestrini warns us, if this will come to pass, the two key issues to be monitored are cryptocurrencies on one side and Italy lagging behind on the other.
Alessandro Silvestrini’s research study does not add much to what we already know about FinTech, yet its merit is that it arranges the whole topic into an organic and understandable framework.
Fintech: un focus sulla situazione italiana (“FinTech: focus on the Italian situation”)
Alessandro Silvestrini
Thesis, Marche Polytechnic University, “Giorgio Fuà” Faculty of Economics, 2022
A recently discussed thesis provides the key elements to understand the final frontier of finance
Digitalisation – first in production and then in financial operations. Driven by innovation, digitalisation has long caused several processes to become virtual, including banking and financial ones, thus also changing the production culture typical of Italian industry and enterprises. A topic that needs to be fully understood and whose evolutions must be followed with care. Alessandro Silvestrini’s research paper (then turned into a thesis discussed at the Marche Polytechnic University, “Giorgio Fuà” Faculty of Economics), entitled “FinTech: un focus sulla situazione italiana” (“FinTech: focus on the Italian situation”), aims, as summarised by the author, “to analyse and explore from different perspectives the technological transformation that has affected the financial industry, a phenomenon of such proportions that a new term has been coined to describe it: FinTech (Financial Technology).” Starting with an observation: in recent years, the digital revolution has deeply transformed all sectors of the global economy, starting with commerce and telecommunications, and up to the financial sphere – this is the focus of Silvestrini’s research.
The paper is structured into three sections. First of all, the concept of FinTech is clarified, also taking into consideration its legal aspects, then follows an investigation of the innovations in financial services that FinTech has made possible, and finally the author takes stock of the situation in Italy.
In his conclusion, Silvestrini writes that, “The most likely scenario seems to be that of “fintegration”, that is, a framework that will see partnerships between traditional players and innovative enterprises, which rather than fiercely compete with each other will favour collaboration, in order to benefit the whole system.” An approach that also entails a cultural change in the way businesses interact, but that may still come at some costs: as Silvestrini warns us, if this will come to pass, the two key issues to be monitored are cryptocurrencies on one side and Italy lagging behind on the other.
Alessandro Silvestrini’s research study does not add much to what we already know about FinTech, yet its merit is that it arranges the whole topic into an organic and understandable framework.
Fintech: un focus sulla situazione italiana (“FinTech: focus on the Italian situation”)
Alessandro Silvestrini
Thesis, Marche Polytechnic University, “Giorgio Fuà” Faculty of Economics, 2022