Possibilities for Financial Technology Sector Development and its Impact on Banking Sector Profitability in Lithuania

Abstract

Research purpose. The development of financial technology sector (fintech) poses a challenge for traditional financial institutions. Therefore, it is important to analyze not only how financial technologies can change, but also how the fintech sector affects banks and their profitability. The aim of the paper is to analyze the possibilities for the development of financial technology sector and quantitatively evaluate its impact on the banking sector’s profitability in Lithuania.

Keywords

• financial technologies
• financial services
• banking sector
• profitability
• g23
• q55
• g21