FinTech have revolutionized applications and redefined the digital economy in recent years. However, there remains a gap in the academic literature regarding core factors that influence the development of internet finance. This research proposes an internet finance development evaluation model with 8 dimensions, namely, Commercial Benefit, Convenience, Trust, Cost, User Profile, Substitution, Competitiveness, and Regulation, based on literature survey. Three DEMATEL methods are empirically validated on Taiwan internet finance environment, through either the DEMATEL technique or a validity index comparison. The theoretical results found that the Balanced DEMATEL model has the best performance, the Commercial Benefits and start-up Cost are the key factors that will influence the willingness of banks to newly enter the internet finance business, and the Trust dimension of Security and providing multi-functional system that meet consumer needs are highly importance. The practical finding also suggest the financial authorities should open up market for non-banking corporations in order to enhance innovation services and internet finance managers should integrate local financial services with local characteristics to increase competition power. This study can provide local governments and countries that are developing Internet finance with guidelines when formulating internet finance development policies and marketing strategies, especially for emerging market.
ISSN: 1792-6599 (Online)