Abstract

The commercialization of the Internet gave way to the digital divide creating a gap between those with access to the Internet and digital information and those without. Growth in telecommunications and wireless network narrowed the gap providing great access with increased reach and range. However, technological advances have resulted in industry specific gaps adding another level to the divide referred to as the Digital Divide 2.0. Each industry has varying factors contributing to the digital divide specific to that industry. The current research evaluates the Digital Divide 2.0 by evaluating the financial industry and the gap in service created by Fintech companies versus traditional financial services.

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The Digital Divide 2.0: Fintech versus traditional financial services

The commercialization of the Internet gave way to the digital divide creating a gap between those with access to the Internet and digital information and those without. Growth in telecommunications and wireless network narrowed the gap providing great access with increased reach and range. However, technological advances have resulted in industry specific gaps adding another level to the divide referred to as the Digital Divide 2.0. Each industry has varying factors contributing to the digital divide specific to that industry. The current research evaluates the Digital Divide 2.0 by evaluating the financial industry and the gap in service created by Fintech companies versus traditional financial services.