Presenting a Model for Identifying and Managing Financial Technology Challenges in Iran

Financial technology has completely transformed the financial industry. The benefits and of fintech for the financial industry and consumers have not been without challenges. Considering that most Iranian fintech operate in the field of payment, the current research seeks to identify and manage the challenges of payment fintech. The present study was conducted in three stages. In the first step, the challenges of financial technology were identified and screened. To identify the challenges, literature review was used and to screen them, two methods of theoretical screening and Binominal test were used. In the second step, the selected challenges were analyzed by fuzzy dematel technique. Four challenges of fee system, regulatory, security and lack of support of fintech by regulators were respectively identified as the most effective challenges. In the third step, by using the SAST, solutions for managing each of the challenges were presented. Reforming the fee system and the regulation of the central bank are the most important solutions for managing the first challenge. The clarity of the regulatory body and the development of a regulatory sandbox is one of the solutions for managing the regulatory challenge. Using the services of APA centers helps to manage the security challenge.