Anticipating Technological Transition Path in Iran's Financial Sector Based on MultiLevel Perspective

Authors

Faculty of Management, University of Tehran, Iran

/jstp.2020.11.4.1066

Abstract

New financial technologies (Fintech) are evolving in the Iranian financial sector. Identifying the pattern of this transformation in the social-technical systems would be the policy-making tool to accelerate the desirable situation. This study attempts to identify the pattern of financial transformation and mechanisms that are facilitating or blocking change by studying the Banking, Insurance and Stock Exchange industry as a result of Fintech's emergence. The results of this study show that despite the transformational capacity of new technologies in the field of finance and appropriate technical access to modern day knowledge, the technological evolution of the financial sector in Iran is highly dependent on factors such as regulatory adaptability, accessibility of data, digital maturity and The financial status of the traditional sector, as well as the readiness of the traditional financial sector to network with Fintech startups. Therefore, the transition of the financial industry will not be niche based and therefore policy-making to accelerate such a change will not go the way of simply supporting the innovator startups in the field, but rather focusing on regulatory structural reform of the industry.
 
 

Keywords


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