The Role of new Financial Technology (Finteches) on Monetary Base Usages in Iran

Today, new financial technologies (fin Teches) have caused extensive changes in the banking industry. In recent years, new financial technologies have become the most popular term in the word is economic markets. Investors in these emerging markets are looking to innovate to improve their position. However, new financial technologies to achieve the desired position. they have a long way to g but these new financial technologies have been able to make significant changes in some economic variable, but the impact of new financial technologies on economic variables, including monetary variables, is inevitable. This effect has led to the prediction of the behavior of these variables (new financial technology) for policy makers, especially in the monetary field, so in this study to investigate the role of new financial technology (fin Teches) on Monetary Base Usages in the Iran during The years 1392-1398 are paid quarterly. In this research, the variable of total mobile and Internet (off-bank websites and applications) transactions has been used as a variable of new financial technology The model used is the self- explanatory model Auto Regressive Distributed lag (ARDL) The results show that the emergence of new financial technologies increases Income Velocity, Money multiplier and Supply of Money and on the other hand leads to a decrease Monetary Base Usages. In general, new financial technologies (fintechs) are closely related to the startup business. Establishing e-commerce requires appropriate economic, technical, telecommunication, legal, human and cultural foundations. New financial technologies play an important role in the development of e-commerce, and new banking services and products, including contactless payment models, financial systems created by public donations, and other such models, can provide important and new opportunities for banks. New banking based on financial technology allows banks to expand and expand their market beyond traditional deposit and lending schemes. Double new banking can reduce the bank's operating costs. On a larger scale, the continued advancement of financial technology-based banking can contribute to reducing retail transaction costs both nationally and internationally, and this in turn can potentially lead to greater productivity and economic prosperity. Therefore, new financial technology and its impact on the monetary sphere and its concepts and nature need to be studied and explained. In this study, the role of new financial technology on monetary base expenditures in Iran will be investigated. Money, the speed of money circulation, the increasing monetary coefficient and the monetary base expenditures in Iran are discussed. In the last chapter, the conclusions and necessary proposals for the use of new financial technology in Iran are mentioned.