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What is Financial Ecosystem

Fostering Innovation and Competitiveness With FinTech, RegTech, and SupTech
Encompasses the entire range of market players in the financial system, having a role in efficient and sound capital allocation to sustainable, value adding projects, by matching savers and investors.
Published in Chapter:
EU FinTech Index: An Evaluation of Countries' Opportunities for FinTech Growth
Iustina Alina Boitan (Bucharest University of Economic Studies, Romania) and Teodora Cristina Barbu (Bucharest University of Economic Studies, Romania)
DOI: 10.4018/978-1-7998-4390-0.ch001
The chapter focuses on the innovative financial technology called FinTech and explores its prospects for becoming a catalyst for financial inclusion. The novelty of the research approach resides in being the first study computing an EU FinTech index for the EU member countries. The index gathers four dimensions and provides insights on whether the FinTech environment in one country is better or worse compared to other countries in the sample. Countries' ranking based on index scores computed for two different years show that Sweden, Finland, Luxembourg, and Germany are always placed on the top of the hierarchy. Therefore, they exhibit real development opportunities in this regard. At the opposite are some countries in South-Eastern Europe that persistently record the lowest FinTech index scores; thus, there is still room for improvements in terms of market players' presence, existing regulation, access to digital financial inclusion.
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