Information and Communication Technology (ICT) Development Impact on Consumer Lending Market in Latvia

Scientific Conference on Economics and Entrepreneurship SCEE’2020: Organized within the 61th International Scientific Conference of Riga Technical University “Scientific Conference on Economics and Entrepreneurship SCEE’2020”. Book of Abstracts 2020
Atis Verdenhofs, Tatjana Tambovceva

Financial sector globally has been affected by development of ICT during last 30 years. Same applies for Latvia where internet user penetration is above average in Europe. Internet access and rapid development of ICT has caused increasing number of established ICT based companies in financial sector that is known as Fintech companies. In Latvia most widely known area for Fintech companies is connected with consumer lending that is alternative to traditional bank lending products. Authors of research are performing data analysis of consumer lending market performance in Latvia and performing financial sector expert interviews. Results of the research are showing that there are increasing number of Fintech companies in general, that traditional banking institutions are willing to cooperate with such companies and data shows that traditional physical accessibility of financial sector products is decreasing and more focusing on online presence.

Atslēgas vārdi
Fintech, Consumer lending, Online lending, ICT development, Non-bank lending

Verdenhofs, A., Tambovceva, T. Information and Communication Technology (ICT) Development Impact on Consumer Lending Market in Latvia. No: Scientific Conference on Economics and Entrepreneurship SCEE’2020: Organized within the 61th International Scientific Conference of Riga Technical University “Scientific Conference on Economics and Entrepreneurship SCEE’2020”. Book of Abstracts, Latvija, Rīga, 14.-16. oktobris, 2020. Rīga: RTU, 2020, 18.-18.lpp. e-ISBN 978-9934-22-510-9. e-ISSN 2256-0866.

Publikācijas valoda
English (en)