Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 1, 2023 erstellt
Description:
This paper explores the intersection of fintech and the legal sphere, emphasizing its relevance for persons in Kenya. Fintech, short for Financial Technology, refers to businesses that utilize technology to enhance or automate financial services. It has evolved through different generations, incorporating advancements such as telegraph and telephone infrastructure, ATM and e-banking, peer-to-peer lending, and the incorporation of AI, Big Data, and IoT. Fintech plays a significant role in Kenya's tech ecosystem, attracting foreign direct investment and transforming financial transactions for individuals and businesses. However, the legal landscape surrounding fintech in Kenya lacks a clear overarching regulatory framework, leading to challenges such as capacity limitations in regulatory agencies, tax unpredictability, and inadequate government support. To navigate these issues effectively, legal professionals need to stay ahead in understanding fintech and its implications. Establishing a robust regulatory framework can promote fintech profitability, funding, and financial inclusion, contributing to economic growth and reducing inequalities. Therefore, developing a comprehensive understanding of fintech's functioning and its impact on the economy is crucial for legal professionals to provide effective advice and shape the legal landscape