FinTech in Western Asia: Case of Iran

Financial Technology (FinTech) is a combination of Internet- based technology and the existing financial services. FinTech is an innovation that aims at competing with traditional financial methods in the delivery of financial services. FinTech is an excellent example of Industrial Integration and Innovation. Currently, FinTech is changing the traditional financial services and will have a significant impact on financial operations on a global scale. Iranian Fintech market, as a part of Western Asian Fintech market, can be considered as a growing new market. This research introduces the Iranian FinTech development trend as well as the existing barriers and challenges.