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Customer Demands of FinTech in Taiwan

Authors:
Chih-Chuan Chen
Hui-Chi Chuang
Ming-Hui Pai
Yi-Chung Cheng
Sheng-Chun Pai

Keywords: fintech; modified Delphi method; taiwan fintech industry

Abstract:
In recent year, FinTech advances have been rapidly transforming every aspect of our daily life through financial services. Advancing technologies, evolving customer expectation, and changing regulatory frameworks are opening doors to disruptive innovation in financial services. In Taiwan, although the government has announced 2015 as the year of FinTech, the progress of FinTech development is still slow as compared to its neighboring countries, such as Hong Kong, Singapore and China. This study aims to identify the critical success factors for FinTech’s development in Taiwan based on customers’ acceptance of FinTechs and innovative financial services. A modified Delphi method was adopted in order to obtain the most reliable opinion consensus of a group of 28 experts by subjecting them to a series of questionnaires, which was designed to extract customers’ FinTech acceptance with respect to the six core functions of financial services, namely, payments, insurance, deposits & lending, capital raising, investment management, and market provisioning. The results showed that FinTechs of payment are more accepted by the customers in Taiwan. The top four payment options are highly approved by the customers with scores higher than 4.0. These four payment options are very popular in China. Therefore, the experts all agree that they are promising in Taiwan.

Pages: 1 to 5

Copyright: Copyright (c) IARIA, 2018

Publication date: July 22, 2018

Published in: conference

ISSN: 2326-9332

ISBN: 978-1-61208-654-5

Location: Barcelona, Spain

Dates: from July 22, 2018 to July 26, 2018