LJI Business Management Journal
Volume. 8, Published on July 2017, Page 1
FinTech contribute to the advantage of backwardness
-a case study of Laos -
This paper describes the possibility of introducing FinTech into the financial sector in Laos, 1) the outline of FinTech, 2) the current situation of financial sector in Laos, 3) the possibility of introducing FinTech into the financial sector. FinTech will be able introduced, and will have huge impact to the financial sector in Laos. As a road map, online lending and security systems have huge potentials contributing to the business market now. Cloud funding, online payment, and service application providers for accounting will be introduce in the near future. Mobile settlements and robots advisers will be introduced later. In Laos, there is the possibility of the development going forward in largely determined stages through introducing advanced technologies, FinTech in financial sectors, developed in advanced countries. Laos will enjoy the advantage of the backwardness and will catch up to middle-income countries.