CEU Electronic Theses and Dissertations, 2020
| Author | Predojevic, Nemanja |
|---|---|
| Title | The Relevance Of FinTech For The Serbian Innovation Ecosystem And The Role Of Regulatory Sandboxes |
| Summary | FinTech lies in the intersection of finance and technology. While technology has supported the financial industry for decades, the latest FinTech wave has occurred following the aftermath of the Global Financial Crisis of 2008. Multiple stakeholders are present in the FinTech space – entrepreneurial start-ups, incumbents, technology companies, regulators and end-consumers. The main aim of FinTech is to make financial products cheaper, simpler to use and faster to access. Financial industry regulators have started to experiment with novel ways of supporting innovation. Among the new concepts is the regulatory sandbox, which provides space for innovators to test new value propositions in a safe environment, simulating real market conditions. The concept was first launched in the UK by the Financial Conduct Authority, and subsequently has quickly spread to other countries, both developed and emerging. The concept has also been adopted by several financial regulators in Central and Eastern Europe, with the examples of Poland and Hungary as the most advanced ones. In Serbia, FinTech is an important part of the innovation ecosystem, which in turn is an important part for the country’s overall economy. National Bank of Serbia (NBS), the relevant regulator, has initiated the sandbox concept in 2018. However, the real impact of the sandbox remains unclear due to the lack of relevant information. In contrast to the examples of the UK, Poland, Hungary and the majority of other countries in the EU, the Serbian sandbox is not accompanied by an innovation hub, nor does the country have a designated FinTech strategy. Creating a strategic framework and increasing transparency should be among the NBS’s main priorities to successfully support the FinTech ecosystem. |
| Supervisor | Szilagyi, Peter |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2020/predojevic_nemanja.pdf |
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