New Technologies in the Financial Industry

Financial and technological innovations during the last two decades in the financial system were underpinned the emergence of new business models, strategies, processes, products and applications. Further, new entrants into the financial markets and providing financial services changed the dominant operating business models and competitive dynamics of a financial industry. The main purpose of this paper is to explore and analyze evolution of the relationship between finance and technology over the last two centuries. After that, in the paper are identified key drivers of FinTech innovations, are identified key market players and key areas in FinTech. The basic source of data in this paper was the secondary sources provided by other researches those include journal articles, reviews and academic books. The scientific contribution of this paper is reflected in the fact this paper represents one of the pioneering analysis of the FinTech in the B&H. Finally, for further analysis it can be explore the reaction of regulatory bodies on each of the eras of FinTech evolution and on the changes of IT and the nature of financial systems worldwide.