The emergence of fintech innovation and challenges towards SMES

ABSTRACT

Covid-19 pandemic has brought us to a new norm that spawn the world towards new way of working, communicating, and doing business. The evolution of globalization and digital technology with a rapid speed has position Fintech as one of the important innovations that would support millions of SMEs in the current economic situation. Based on the contribution and raising number of SMEs across the world, this paper illustrates the technical and managerial challenges of SMEs that lie ahead upon the emergence of Fintech. The finding is meant to create an awareness towards the potentials of innovative Fintech platforms in solving financial issues of SMEs. However, there is a need for substantial further research and development which should include ongoing assessments on emerging Fintech innovation. © 2021 Nova Science Publishers, Inc.