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The FinTech revolution: adopting trust-based models to narrow racial wealth and financial literacy gaps in America
Dissertation   Open access

The FinTech revolution: adopting trust-based models to narrow racial wealth and financial literacy gaps in America

Damon Tyrone Gray
Doctor of Business Administration (D.B.A.), Drexel University
Mar 2022
DOI:
https://doi.org/10.17918/00001777
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Abstract

Financial services industry--Technological innovations Internet banking African Americans
The purpose of this study is to determine the drivers of financial technology (FinTech) adoption and specifically to examine if African Americans will do business with technology-based virtual banks, which operate digitally, provide basic banking services, and share a significant cost advantage, or if they will continue banking with traditional branch-based banks. Many financial service firms are moving towards FinTech models, which will likely widen the financial literacy and racial wealth gap between African Americans and members of the majority group.

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