The Rise of Fintech. A Regressive Progression?

Pre-University Paper from the year 2020 in the subject Computer Science - Commercial Information Technology, grade: 100%, , language: English, abstract: Following on from an enquiry and explanation into the essence of the question at hand, this project delves into exploring the nature of Fintech and its rise. This project opens, from the offset, a deep and riveting consideration of this question of Fintech not only being a scrutinization of its tangible impacts - but rather, a question with much more metaphysical bearing. The cultural, societal and technological impacts of Fintech are deemed pivotal components of this project, and as this paper ventures into the heart of the literature review - decades of scholarly and non-scholarly items of research are synthesised, critiqued and questioned - drawn to reason the impact that Fintech has historically manifest over the course of the previous 150 years - opening the argument that previous and proven trends in Fintech can be indicatively utilised to project possibilities for future movements in this industry. Transitioning the focus of the project from the historical to the present; the current and most novel developments in Fintech are correspondingly explored. We explore the impacts of three pivotal counterparts of today's Fintech movements; including Algorithmic Technologies, Artificial Intelligence (AI) and Technological Products, and fashions these explorations in, both, commercial and corporate banking contexts. Strengthening arguments discovered over the course of the review in literature lead us to discover the sheer extent to which each aspect of Fintech had its progressive peaks and regressive troughs. This approach to the review of literature is sustained, as an enquiry and synthesis of informative sources is continued into the context of analysing the impacts of Fintech on the layman, as well as a breakdown of theories indicating the future of Fintech. It is with this very metaphysical rationale that the conclusion of this project's findings takes place. This project defines that Fintech is most definitely a progression, if not, a quintessential progression. However, its most novel developments have been castigated by a hindrance of regression that lies innate to all revolutions in history: the eventuality of cultural and industrial opposition. With this in mind, it becomes a question of our own attitudes and response to these regressions: as the industry follows a constant process of adapting to our changing needs, it is important that we, too, adapt to the ever-dynamic outcomes of Fintech.