20504 FELIX OKPOZAE – Effect of financial technology (FINTECH) companies on traditional banking

PROJECT PROPOSAL

GENERAL TOPIC

Effect of financial technology (FINTECH) companies on traditional banking in Ireland.

RESEARCH HYPOTHESIS

In the last five years, more banking customers prefer Fintech companies over traditional banks because they provide more competitive services to the customer (for example, faster speed of service, cheaper fees, easier process etc.).

Therefore, traditional banks need to be more competitive to maintain their market share.

RESEARCH QUESTIONS

1. What is the number of Fintech companies do we have in Ireland?
2. What type of financial products do they offer?
3. Who is the target market of Fintech Companies?
4. What is the reason why people patronise Fintech Companies over traditional bank?
5. What is the impact of Fintech companies on traditional banks?
6. How do the services Fintech Companies provide threaten the traditional banks?
7. How are the traditional banks reacting to the rise of Fintech Companies?
8. Is there a reason for the rise of Fintech Companies?
9. What has been the response of the financial regulator?
10. What is the market share of Fintech companies in Ireland?
11. What is the market share of traditional banks in Ireland?

RESEARCH OBJECTIVES

To determine, if Fintech Companies have overtaken traditional banks due to better and more competitive services.

SPECIFIC OBJECTIVES

1. To determine if there is growth of Fintech Companies in Ireland.
2. To find out the target market and clients of Fintech companies.
3. To identify if Irish customers prefer Fintech company’s over traditional banks.
4. To determine the level of patronage on Fintech companies in Ireland.
5. To establish the impact of Fintech companies on traditional banks in Ireland.
6. To determine how competitive are Fintech companies over traditional banks.
7. To evaluate the market share of Fintech companies and traditional banks.