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Fintech, Roadmap, G4 (111212005 IBS3 Ruby 楊絜茹, 110251037 IPCM4 Angelica…
Fintech
Evolution of the payment ecosystem
Cash-Based and Traditional Banking Payments
Cash and Checks
Credit Cards
Automated Clearing House (ACH) and Electronic Funds Transfer (EFT)
ACH, enabling direct transfers between banks
EFT, allowed payrolls and other payments to move electronically
The Emergence of Online Payments
E-commerce and Digital Wallets
Internet Banking
Debit Cards
Mobile Payments and Digital Wallets
Smartphones and Mobile Wallets
P2P Payment Apps
peer-to-peer (P2P) payments
making digital payments easy, fast, and social
NFC and QR Codes
The Future
Biometric Authentication
Fingerprint, facial recognition, and other biometrics
AI and Machine Learning
Invisible Payments
Blockchain and Cryptocurrency, Open Banking and Embedded Finance
Bitcoin and Cryptocurrencies
Stablecoins and DeFi
allow users to transact and lend without traditional banks
Open Banking
from budgeting tools to lending products
Embedded Payments and Finance
Payments have become seamlessly integrated into apps and platforms
Application of blockchain technology
Benefit
Enhanced Transaction Speed and Efficiency
real-time processing
maintenance of immutable transaction records
Reduced Transaction Costs
eliminating intermediaries
enhancing transparency
Increased Security and Privacy
All data encrypted
permissions
Keys
Specific use Cases
Trade Finance
Contour
blockchain technology platform
Cross-border Payments
Quorum
JPMorgan's Interbank Information Network (IIN)
solve the challenge of interbank information sharing
other
Digital identity verification
Asset tokenization
Supply chain finance
challenges
Integration
IT infrastructure and legacy systems
security and privacy
Data
uncertainty
Regulatory
Five business models commonly used in FinTech
1.Marketplace Model
2.Payment Processor Model
3.Alternative Credit Score & Lending Model
4.NeoBank Model
5.Robo-Advisory Investment Management Model
Leveraging technology to provide clients with investment advice and portfolio management services
Advantage
Scalability, cost-effectiveness and ubiquity
Disadvantage
Rely on technology to provide services and vulnerable to technical issues or cyber attacks
Provide banking services to consumers without the need for physical branches
Advantage
Operations are more flexible and can quickly adapt to customer needs and market trends
Disadvantage
Neobanks may face profitability difficulties in early stages
Helps lenders determine borrowers’ creditworthiness by using non-traditional data
Advantage
By offering lower interest rates than traditional lenders, alternative credit scoring and lending fintech companies can gain a competitive advantage in the loan market
Disadvantages
Using alternative data sources to assess credit is risky
Payment Processing services to Consumers and businesses filter companies
Advantage
payment processes can process large volumes of transactions quickly and efficiently
Disadvantages
payment processors typically rely on
Partnerships with banks to access payment networks
Connects buyers and sellers :arrow_right: Facilitates transactions:arrow_right:Earn a commission on each transaction
Advantages
[1] Easy to scale without significant overhead costs
[2] Provide a diverse range of products and services to Consumers
Disadvantages
the filter behind the platform has limited control over the products and services offered
Taiwan’s financial technology development blueprint
development
Strengthening financial inclusion
epidemic relief funds
digital platforms
QR Code payment
launch education and SME support programs
Development of digital currency
CBDC
integrating
e-wallets
communication platforms
The rise of super apps
e-wallet providers
huge database
consumers' payment needs
targeted payment services
Competition of payment tracks
QR Code
priority
API
B2B
Growth of cross-border payments
e-payment
consumer preferences
ubiquity
security
convenience
e-commerce
cross-border payment
policies
regulations
Strengthening financial crime defense
Payment institutions
integrated prevention
detection technologies
financial crimes :no_entry:
Roadmap
Inclusiveness
Innovation
Resilience
Sustainability
Group
RegTech
digital identity authentication mechanisms
digital regulatory reporting mechanism
Data Governance
data sharing
cross-market
cross-institutional
TSPs
Guidelines on Data Sharing among Financial Institutions
Capacity Building
certification mechanism
cultivate financial technology talents
FinTech Taipei
Publicity & Exchange
financial technology seminars
expand overseas markets
FSC
G4
111212005 IBS3 Ruby 楊絜茹
110251037 IPCM4 Angelica 蔣水晶
112212002 IBS2 Maggie 李采妤
112212007 IBS2 Alex 楊承逸
Pre-20th Century to Early 2000s
1990s to Early 2000s
Late 2000s to Early 2010s
Late 2010s to Present