Impact of technology on financial services pdf Since the products sold by banks are virtually similar, banks are attempting to gain an advantage over competitors on other causes that may trigger a rise customer retention as well as May 21, 2025 · This chapter examined the role of financial technology (fintech) in shaping the operations of non-bank financial intermediaries (NBFIs). It Apr 5, 2023 · PDF | This study investigates the main financial technologies adopted by banks to improve their financial performance. We used data from 2000 to 2020 from 55 selected developing economies to examine the link between digital finance technology and financial stability. This comprehensive analysis delves into the driving forces behind the rise of financial technology, its disruptive effects on conventional banking systems, and the increasingly pivotal role of artificial intelligence within the industry. This article examines the role of FinTech in transforming traditional banking systems, focusing on the integration of AI, machine learning (ML), and blockchain technologies. Their appearance and growing popularity are associated primarily with the rapid development of Bitcoin and other cryptocurrencies. e. Written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, this book is a glimpse on what the future of the financial services will look like and the impact it will have on society. Apr 20, 2024 · Abstract: The rapid development of financial technology is profoundly affecting the banking industry, especially in financing business and risk management. Apr 15, 2022 · Financial technology development has influenced nearly all financial services industry, from granting to insurance, from accounting to consultancy, from consumer finance to investment banking. Fintech represents the intersection of finance and technology Blockchain technology has made a tremendous impact on the Financial Services industry. This article aims to investigate how Fintech has influenced recent changes in the banking industry and upcoming challenges Mar 20, 2022 · The impact of electronic crimes on the risks of banking financial services in light of the increasing use of banking information technology and communications. Abstract. The present study shows that FinTech and blockchain have a strong influence on the digitalization trends. This paper examines the evolution of fintech, its transformative role in increasing financial inclusion, and the challenges it faces, such as regulatory and cybersecurity concerns. This paper extends theory to explain the impact of financial technology and the Internet on the nature of banking. This paper analyses the impacts of FinTech on bank performance and the risk adjustment mechanism of FinTech. v1i24 ABSTRACT The study had an objective of determining impact of digital innovations on the performance of banking industry in Kenya. The ongoing digitization of financial services and money creates opportunities to build more inclusive and efficient financial services and promote economic development. In general, the study revealed that digital financial services (DFS) have substantial and significant marginal effects on earnings per share in Nigeria’s banking sector. May 31, 2022 · PDF | On May 31, 2022, Anitha Kumari and others published The Impact of FinTech and Blockchain Technologies on Banking and Financial Services | Find, read and cite all the research you need on Dec 18, 2023 · Purpose: This study explored the impact of fintech on Nigerian banking services. , mobile phones and internet usage on financial stability of the banking sector in developing market economies. People’s behavioral intention is driven by trust, usability, and social influence. In banking, digitalisation has brought about the automation of formerly manual procedures, therefore improving client happiness, efficiency, and operating Jan 1, 2024 · The emergence of digital technologies has transformed the banking and finance industry and created new opportunities for financial business to improve their competitive advantage. Dec 25, 2022 · PDF | In recent decades, financial technology and stability have been debated and studied for decades. It aims at solving several needs of the public, helping the governments tackle newer problems and identify the potentials of new technology that may be conceived in a competitive landscape. The volume of ATM transactions, POS transactions and internet bank transactions were used to measure financial technology while liquidity ratio was used to measure financial performance. Abstract The rise of Financial Technology (FinTech) has significantly transformed the financial services landscape, presenting both opportunities and challenges for traditional banking institutions. 18371/fcaptp. This report focuses on the relationship be- tween technology and change, both past and future, in the financial service industry. It provides an analytical framework for academic investigation, highlighting the trends that are shaping scholarly research into these dynamics. 07 / 2016 concerning Increasing Financial Inclusion in the Financial Services Sector for Consumers or the Public, Article 1 paragraph ABSTRACT The banking sector has been substantially changed by the fast development of digital technology. This presents an opportunity for inventors and innovators to emerge because banks will want to increase the performance of the bank, so they will use financial technology for their services Feb 1, 2024 · In recent years, the Chinese banking industry has increasingly used financial technology (FinTech) to increase the credit supply to key areas of inclusive finance, as “impulse” and “fee reduction and profit-sharing” behaviours have exerted pressure on bank performance. Jan 1, 2023 · Digital financial technology has been identified as a potential solution in accelerating developing markets towards financial inclusion. Mar 19, 2023 · Study of Fintech and its impact on Financial performance ofBanks (A Case of Selected Indian Banks from 2010 to 2021). Type of Paper: Empirical. This paper investigates the effect of e-banking services on the performance Sep 29, 2023 · PDF | This study examines crucial financial performance metrics in European banks that have been impacted by FinTech integration, such as Return on | Find, read and cite all the research you Mar 1, 2022 · PDF | On Mar 1, 2022, Shubham Goswami and others published Impact of Financial Technology (Fintech) on Financial Inclusion (FI) in Rural India | Find, read and cite all the research you need on Nov 9, 2023 · technology adoption and use. Employing Dec 10, 2023 · The data-driven era driven by financial technology also offers unprecedented opportunities for the financial industry. May 1, 2022 · The financial technology (FinTech) revolution is in full swing globally. Jul 2, 2025 · Abstract This study investigates the transformative impact of blockchain technology on financial services and digital transactions, examining its potential to revolutionize operational efficiency, security, and cost-effectiveness in the financial sector. Based on the Financial Services Authority regulation Number 76 / POJK. Jan 1, 2024 · This analysis not only demonstrates the transformative impact of fintech innovations but also paves the way for a more dynamic and customer-centric financial services landscape. These are the fintech revolution, the advent of crypto-assets, and the rise of artificial intelligence (AI). Finally, the paper identifies and evaluates the significant applications of Blockchain technology in financial services. This paper examines the impact of FinTech on traditional banking by exploring the evolution of financial services, the key areas of FinTech innovation, and the implications for banks in terms of Financial Technology (FinTech) and its Role in Supporting the Financial and Banking Services Sector International Journal of Academic Research in Business and Social Sciences, 2021 Fintech is a business and banking company that translates to financial technology. The study population consists of | Find, read and cite all the research Mar 14, 2023 · This paper provides an overview of the evolution of financial technology, key players, challenges and opportunities, and future outlook in financial services. It aims to investigate the various applications, benefits, challenges, and prospects of integrating blockchain technology into fintech. The data Jan 1, 2021 · The Impact of FinTech on Financial Services in India: Past, Present, and Future Trends January 2021 DOI: 10. Jan 1, 2023 · Impact of Blockchain on Financial Technology Innovation in the Banking, Financial Services and Insurance (BFSI) Sector January 2023 Journal of Statistics Applications & Probability 12 (1):181 This paper reviews seven emerging technologies that are shaping the future of financial services across the globe, their impact on financial services, and the implication for regulation. May 11, 2024 · PDF | Artificial Intelligence (AI) is revolutionizing the landscape of financial services, offering transformative opportunities for efficiency, | Find, read and cite all the research you need Mar 26, 2024 · The convergence of Blockchain technology and Artificial Intelligence (AI) is exerting a transformative influence, ushering in a new epoch of security and transparency within the financial sector Feb 23, 2023 · This research paper focuses on the impact of financial technology (fintech) on the financial services and banking sector, with a particular emphasis on its application within the Islamic finance Dec 30, 2021 · The results show that: commercial banks generally adapt to the changes in the financial market brought by the rapid development of financial technology, and use financial technology to improve Sep 16, 2023 · PDF | This research study aims to investigate the impact of Financial Technology (FinTech) adoption on customer satisfaction in the banking sector. Substantial evidence has been provided in the previous literature which indicates that an acceleration towards financial inclusion can have a positive impact on the economy. Technology has also helped this industry to offer new services to its customers. The challenge they face is significant: in a competitive environment of rising cost pressures, where rapid action and response is imperative, financial institutions must modernize their technology function Apr 30, 2024 · This study provides an in-depth examination of the profound impact technological innovation has on the financial services industry, focusing on recent advancements in blockchain, artificial The percentage of financial services respondents who have seen an increase in profit due to the impact of technology investments over the past 24 months has risen significantly since 2023. Jul 13, 2023 · Fintech, the application of digital technology to financial services, is reshaping the future of finance– a process that the COVID-19 pandemic has accelerated. Abstract Digital Financial Services are ushering in an age of financial innovation and convenience with technology as the driver. The study employed quantitative research approach Mar 30, 2023 · It has been proven that the development of new financial services and products substantially impacts bank performance. In this process, fintech can help commercial banks improve 1 Introduction Technology plays a critical role in various areas of our life, especially in the banking sector. The findings indicate that blockchain technology has the potential to improve the efficiency of numerous areas of the financial industry. However, the capabilities of blockchain technology based on distributed ledger far outweigh the cryptocurrencies. Jul 1, 2022 · This paper focuses on Blockchain technology and its importance for financial services. This, in turn, is constantly influenced by external and internal factors, which together can have either negative or positive effects, accordingly, posing a danger (risks) for Despite the undeniable importance of financial innovation in explaining banking performance, the impact of innovation on performance is still misunderstood for two main reasons: first, insufficient understanding of the drivers of innovation and, second, the impact of these innovations on the banks performance remains poorly tested (Mabrouk & mamoghli, 2010). This article Mar 1, 2025 · The widespread application of financial technology is a double-edged sword for the development of traditional banks. This paper delves into a thorough ex-amination of FinTech's ascendance, tracing its roots from nascent Jul 22, 2024 · The financial services industry is undergoing a transformative shift driven by financial technology, commonly referred to as Fintech. An electronic ledger that is immutable, secure, and decentralized is referred to as a blockchain. This study examines the relationship between | Find, read and cite all the research you Mar 2, 2024 · The rapid advancement of Artificial Intelligence (AI) technology has sparked a revolution in the financial services industry, commonly referred to as Fintech. It investigated key areas such as operational efficiency, credit expansion, financial inclusion, and shifts in market structure Oct 29, 2024 · The collective impact of these drivers underscores the critical importance of digital technology integration in ensuring the sustainable development and competitiveness of financial services in Financial inclusion become one of the national priority in Egypt's sustainable development strategy 2030, this research identified the readiness of the Government of Egypt to innovate in leveraging financial technology and new technologies to Jun 29, 2022 · There exists a gap in the literature and visualization research on impact and future pathway of fintech innovations in payments and financial services and role of financial regulations. This document provides an introduction to a project report on the impact of technology on financial services. It provides a synthesis of the current state of AI and FinTech. Evidence from Nigerian banks. This study aims to explore the main challenges and opportunities brought by financial technology innovation to bank financing and risk management. . 4018/978-1-5225-7180-3. This report uses the term “financial firms” instead to reflect the broad scope of stitutions included in financial services. This study Practical Implications: As the information contents of annual reports improve the usage of Financial Technology services, the implications of this study result in better-informed judgments for investors. Although technology has been a part of the financial services industry since the 1850s, it is only during the past two decades that FinTech has become a term to customarily describe breakthroughs in technology that potentially have the power to transform the provision of financial services, drive the creation of novel International Monetary Fund (IMF) Mar 30, 2018 · THE IMPACT OF FINANCIAL TECHNOLOGY ON THE TRANSFORMATION OF THE FINANCIAL SYSTEM March 2018 Financial and credit activity problems of theory and practice 1 (24):417-424 DOI: 10. According to the empirical results from the quantile The postulates of financial inclusion are centered around the idea that access to financial services can have a positive impact on poverty reduction, economic growth, and May 24, 2024 · The rapid development of information technology has had a tremendous impact on financial institutions, especially commercial banks. Fintech companies (fintechs) are innovating and offering Feb 23, 2019 · FinTech service encapsulates-but not restricted to-wide range of financial services capitalising from the explosive developments in technology, it includes the payments, clearing and settlement Impact of Blockchain on Financial Technology Innovation in the Banking, Financial Services and Insurance (BFSI) Sector Ritesh Khatwani1,*, Mahima Mishra2, Madhura Bedarkar1 , Kiran Nair2 Oct 10, 2024 · Abstract Financial technology (Fintech) has emerged as a transformative force in the global financial landscape, offering innovative solutions to longstanding challenges. Blockchain technology and finance Where could blockchain technology have an impact? Finance starting at the centralised end of the spectrum Crypto-finance Public policy considerations and regulation of crypto-finance The combination of financial technology (FinTech) and blockchain is deliberately transforming digital banking services. Fintech's integration of blockchain technology enhances revenue, reduces costs, and augments competitiveness. The specific objectives | Find, read and cite all the research Artificial intelligence (AI) – and particularly generative AI (genAI) – soared to the top of the agenda for businesses, policy-makers and other stakeholders in 2024. There was no shortage of discussion across various forums about the technology’s profound impact and the potential direction of future policy frameworks; nevertheless, the World Economic Forum, responding to the increasing Abstract Financial Technology (FinTech) has emerged as a disruptive force in the banking sector, revolutionizing the way financial services are delivered and consumed. A study from Deyoung & Nolle (2007 This study aims to look at the effect of financial technology on financial performance of commercial banks in Kenya. Jim Marous Digital Banking Report Abstract With the emergence of new technologies, banks and financial services around the globe are taking advantage. The dialogue included numerous interviews and Jan 1, 2019 · Further, experts attribute a fundamental impact on the financial services industry to blockchain technology as an emerging disintermediating digital innovation. Introduction The emergence of financial technology (fintech) is disrupting the traditional banking industry (Mention, 2019). The effect of digitalisation on general financial services, client contacts, and banking operations is investigated in this article. Despite advances in technology, consumer search and assembly costs remain significant. Further takes up various tools, strategies, and featured services in Blockchain-based financial services. In Kenya, fintech innovation has revolutionized financial services, significantly impacting financial inclusion and economic growth. 5 days ago · Every new technology follows a familiar pattern: we overestimate its impact in the short run and underestimate it in the long run. Nov 21, 2021 · This study empirically examines the effect of electronic banking services on the financial performance of listed commercial banks in Ethiopia. The specific objectives are to examine the effect of financial technology on return on assets (ROA), return on Jun 18, 2021 · The bank of the future will have several different manifestations. Hence, this research also assessed the impact of these three factors as an important dimension in the use of fintech services for financial inclusion. Keywords: Technology Bank Services, Systematic Review, Technology Acceptance Model. The roles of technology as both a motivator and a facilitator of change are analyzed. In the chapters that follow, we will explore each of these subjects inde-pendently, helping the reader to understand the context, background, and Nov 27, 2023 · Abstract This study investigates the effects of digital finance technology, i. Based on the findings the study concludes that technology innovation has a positive impact on the financial performance of listed Commercial Banks in Nigeria. This review research paper aims to 1. Jan 24, 2024 · This research investigates the impact of digital technology on financial management through a systematic literature review approach. International Journal of Advanced Research in Computer Science and Software Engineering, 8(1), 14-19. Research methodology: This study employed a quantitative research approach, analyzing data from the financial Jan 30, 2025 · Financial technology (fintech) has significantly altered the financial services landscape by introducing groundbreaking innovations in areas such as blockchain, artificial intelligence, and digital payments. It also simplifies the process of getting to know your consumer. Thus, there exists a positive relationship between digital financial services (DFS) and bank financial performance. In Nov 10, 2018 · The Effects of Technology on Bank Performance in Advanced and Emerging Economies: An Empirical Analysis November 2018 November 2018 DOI: 10. Initially, Fintech only described the technology employed at the back-end systems of established financial institutions. Fintech is the application of new technological advancements to products and services in the financial industry and aims at improving & automating the delivery and use of financial services (Allied Market Research, 2021). By 2030, tokenized bank deposits—digital versions of insured money—could support $100–140 trillion in annual flows, rivaling or even surpassing stablecoins, according to Citi Abstract: This study explores the transformative effects of fintech on established banking practices and structures. 1) is Mar 22, 2024 · The study’s goal is to quantify how financial technology has affected the banking sector. The surge of Financial Technology (FinTech) has fundamentally re-structured the financial services landscape, ushering in a wave of innovation that has altered the way consumers interact with their finances and how institutions operate within the global financial system. Jul 5, 2023 · Technology has entered into almost all the operational spheres of banking and financial services industry. It discusses how technology has dramatically changed the financial services industry by enabling processes like payments, trades, and data analysis that would be impossible at the necessary scale without advanced IT systems. The aim of financial inclusion is to bring as many unserved and underserved Abstract This article explores the transformative impact of Artificial Intelligence (AI) in the financial sector, highlighting its various applications and associated challenges. With a focus on the transformation of the financial industry through technological innovation, this research explores the impact of Fintech in improving +1 (212) 703-6633 Consistent with the World Economic Forum’s mission of applying a multi-stakeholder approach to address issues of global impact, the creation of this report involved extensive outreach and dialogue with the financial services community, innovation community, academia and a large number of financial technology startups. The volume of ATM transactions, POS transactions and internet bank Abstract The study examined the impact of financial technology on financial institutions’ performance. Introduction In the era of rapid technological advancement, the financial services industry has undergone a transformative shift with the rise of Financial Technology, commonly known as FinTech. Fintech has intensified competition within the financial sector by introducing novel new financial industry that uses technology to improve the delivery of financial services, fintech is utilized to help businesses and consumers better manage their financial operations, processes Jan 30, 2024 · This study examines the impact of artificial intelligence (AI) on financial control, exploring the implementation of AI technology in financial selection-making strategies, predictive analysis and The study found that ATM has a significant impact on the FP, IB has a significant impact on the FP and MB has a strong significant impact on the FP. But this time, the scale could be extraordinary. Jul 29, 2019 · Impact of Financial Technology (FinTech) on Islamic Finance and Financial Stability is an essential publication that examines both the theory and application of newly-available financial services The financial services sector of the economy is one of the most dynamic and expanding ones, both domestically and globally. May 3, 2024 · PDF | The study investigated the impact of financial technology on banking service delivery in Nigeria for the period 2005-2022. Fintech's integration of blockchain technology enhances revenue, reduces costs, and augments We believe that three key areas of innovation are poised to have an outsized impact on the shape of the financial services ecosystem. ch015 May 20, 2023 · PDF | With the rapid development of artificial intelligence (AI) technology, the financial services sector is beginning to widely utilize these advanced | Find, read and cite all the research The financial technology sector's (fintech) rapid advancements, which have revolutionized numerous industries, have had a particularly large impact on the banking industry. The empirical result of the study shows that financial technology has significant and negative impact on financial inclusion; implying that the current state of the country’s financial technology does not translate to improvement in financial inclusion in the short-run. Through a systematic review of literature and empirical studies, we trace Jan 1, 2019 · The financial technology (hereinafter: fintech) industry is growing rapidly which is supported by the fact that it received more than $20 billion in investment last year alone. This research paper aims to explore the profound impact of FinTech on traditional banking models, examining the disruptions and innovations that have reshaped the landscape of financial services. This study explores the intervention of FinTech and blockchain technologies in digital banking and financial services. To ensure the sustainability of financial technology innovation Dec 14, 2022 · Financial inclusivity together with digital transformation and customer-centric banking services enable HDFC Bank to achieve preference status among its individual and corporate clientele. Stunning development in technology brought a fundamental turning point in the way the banking sector works, which provided many opportunities for banking institutions toward enhancing and Building an effective financial management system involves achieving this goal by performing certain tasks of organizational, informational, managerial, financial, legal, production, political, social types, and so on. May 4, 2024 · Abstract Based on the economic perspective of data analysis, this paper deeply discusses the impact of blockchain technology on the financial market and its future trend. To achieve the objective of the study, ex-post facto was adopted. ch012 Download this article as a PDF Financial institutions must be able to deliver an easy to navigate, a seamless digital platform that goes far beyond a miniaturized online banking offering. The influence of financial technology, or fintech, on traditional banking has been nothing short of For the purposes of this report, the financial service industry has been divided into three segments: 1) retail financial services, 2) the securities industry, and 3) wholesale financial services. This study synthesizes existing literature to analyze and compare the effects of technological advancements on Apr 20, 2024 · The study examined the impact of financial technology on financial institutions' performance. May 1, 2019 · Fintech (financial technology) innovations have been reshaping the financial landscape, revolutionizing the way people access financial services, conduct transactions, and manage their finances 1. The study was based on Technology acceptance model, diffusion innovation theory and resource based theory. 4018/978-1-7998-3257-7. ABSTRACT Financial Innovation and Financial Technology (FinTech) have transformed corporate finance, revolutionizing traditional financial processes and services. It can improve and change cross-border payment, trade finance, capital markets, as well as financial reporting and compliance. The relevance of digital finance and Feb 15, 2023 · Technology self-efficacy is described by individuals' willingness to adapt new technology and their capability to make use of it positively (Technology self-efficacy of digital financial services Oct 11, 2023 · This write-up explores the impact of blockchain adoption on financial performance in fintech firms. The first word (fin) indicates finance, and the second word (tech) implies technology. The percentage Sep 20, 2022 · The synthesis of technology and finance is known as financial technology (Fintech), which brings together two of the biggest industries in harmony. This study intends to examine both the advantages and disadvantages of fintech's extensive effects on the banking sector. Abstract Financial Technology (FinTech) is revolutionizing the banking industry by enhancing risk management strategies and improving fraud detection and prevention mechanisms. Feb 15, 2023 · The primary objective of this research was to assess the impact of behavioral intention of people on the use of fintech services. Blockchain deployment is expected to disrupt the banking and Financial technology, abbreviated as FinTech, is an invention that intends to contest with established financial approaches in the supply of financial services. Digital transformation has triggered significant changes in Dec 31, 2021 · PDF | Blockchain technology has made significant strides in transforming various industries, with financial services being one of the most affected. Economies of scale and scope and network effects are present in many aspects of financial services production, including customer acquisition, funding, compliance activities, data and capital (including trust capital). This research article examines the role of fintech innovation in promoting financial inclusion and 1. To do this, it re-examines the nature of financial intermediation and Jun 6, 2023 · This research paper provides a discussion on financial technology and explores the impact of Fintech for financial inclusion and financial system stability. With continuous technological advancements, financial institutions can perform more precise and intelligent risk assessments and asset allocations, providing customers with superior and personalized services. The Role of Financial Technology (FINTECH) in Changing Financial Industry and Increasing Eficiency in the Economy This paper provides insights on how Fintech changed financial industry and made the wider economy eficient. Fintech disruption is a deviation from the norm, resulting in a significant shift in banking services and, as a result, risk. We focus on the opportunities that may be created for consumers and problems they may encounter as the financial service industry continues to evolve. Jun 10, 2020 · Future research lines should develop analyses on banking, financial services trade, territorial development, legal, management, research methodologies and the sustainability of financial technologies. Introduction Through the last decade, there has been an inventible amount of focus on Block-chain technology (Block-chain tech) and its ability to improve financial services industry (Harris et al, 2022). However, as with any new technology, there are challenges to be addressed, and one of the key challenges facing the integration of Block-chain technology into financial services is the Mar 7, 2022 · The technology-enabled innovation in financial services—known as fintech— is one such example, accelerating rapidly as pandemic shutdowns amplified its importance for maintaining business activity and financial services during a time of social distancing. By analysing the application of fintech tools such as blockchain technology, artificial 1 Introduction The impact of financial innovation on the banking system has been a topic of great interest in recent years. Technology has effectively enhanced the banking sector and financial services institutions. The new technology is expected to trigger revolutionary changes in the financial services sector. The study involved a population of 42 registered commercial banks which were in operation as at 31st December 2019. Nov 1, 2023 · The results of the two-stage system GMM show that digital finance technology has a favourable and considerable impact on financial inclusion. This review explores the transformative impact of FinTech on regulatory compliance within the banking industry. Fintech is the term which means how financial services and technological advances have combined to alter strong banking sector procedures. This study's primary objective is to investigate the impact of blockchain technology on the financial services industry, with a focus on fintech. Foreword Drew Propson Head, Technology and Innovation in Financial Services, World Economic Forum As the global fintech industry continues to grow and scale, the financial services ecosystem is presented with both new opportunities and challenges. The rapid development of information technology, internet The rise of financial technology (fintech) has brought about significant opportunities, transforming the financial services landscape by enhancing financial inclusion, reducing costs, and increasing accessibility to financial services. The purpose of this paper is to provide a comprehensive analysis of the interplay between financial innovation and FinTech within the corporate finance domain. This study delves into the Egyptian context to assess the profound impact of fintech on financial inclusion—a crucial factor for economic development and social equity. Abstract This meta-analysis explores the profound impact of technological advances on financial accounting within the accounting sector. Understanding FinTech and Traditional Banking Financial technology, or FinTech, represents a revolutionary wave of innovation within the financial services industry, transforming how individuals and businesses access and manage their finances. Over the years, FinTech has revolutionized the financial landscape by introducing cutting-edge solutions in areas like payment processing, credit 2. Key findings reveal revenue growth through asset tokenization and efficient cross-border payments. Financial Technology (Fintech) has emerged as a disruptive force reshaping the landscape of traditional banking. Quarterly data on net income, Asset quality, and liquidity, was retrieved Abstract: This write-up explores the impact of blockchain adoption on financial performance in fintech firms. Financial technology (fintech) has profoundly impacted traditional banking models, ushering in a new era of financial services characterized by innovation, efficiency, and accessibility. The study aims to understand the extent of the transformation, identify key drivers, and assess the implications for both financial institutions and consumers. The financial service industry (see fig. The global economy's health, as well as the health of individual firms and customers, depend greatly on it. Introduction Financial technology (fintech) has emerged as a transformative force in the global financial landscape, particularly in developing economies. May 2, 2022 · This study examined financial technology and banking sector performance in Nigeria. Fintech uses emerging technologies such as blockchain, artificial intelligence (AI) and smart contracts to provide novel and enhanced financial services in the financial sector (Thakor, 2020; Mention, 2019). With the rapid evolution of technology, particularly in recent decades, the accounting landscape has undergone significant transformations. It highlights the impact of financial technology on financial services, including competition, customer experience, and access to financial services, cost reduction, and innovation. Secondary data was collected for the period ranging between 2012 to 2019. Other agents of change are considered only to the ex- tent that they help define the market for new technology or its impact. This study uses a systematic literature review approach. state financial or securities regulators. INTRODUCTION The integration of financial technology, or fintech, has started to upend the banking sector, altering traditional approaches and changing the financial environment. ABSTRACT Nowadays banks are going to provide smart services to satisfy the customers. Introduction Financial Services technology is currently in the midst of a profound transformation, as CIOs and their teams prepare to embrace the next major phase of digital transformation. Blockchain will be no different. pdf Apr 5, 2023 · This study investigates the main financial technologies adopted by banks to improve their financial performance. The seven technologies are: Mobile Connectivity; Artificial Intelligence; Decentralised Ledger; Open Source; Hyper Automation; Cloud Computing; and No Code Development Platforms. Financial innovation is the process of creating new financial products, services, and technologies that aim to meet the evolving needs of the market. Cost savings arise from intermediary removal and smart contract automation Impact of Artificial Intelligence (AI) on Banking and Financial Services. “Impacted entities” in the AI RFI includes consumers, investors, financial institutions, businesses, regulators, end-users, and any other entity impa According to the Financial Services Authority (2016) In order for the progress of financial literacy, financial technology and financial behavior to be in line, financial inclusion is needed. 301 Moved Permanently301 Moved Permanently cloudflare This research explores the role of Fintech in changing traditional financial services. The purpose is to provide new insights on how digital transformation enhance customer experience, financial competitiveness, and market performance. Application of technology in banking services is evidence for positive as well as negative impact on customer satisfaction. The transformation of the bank's business model has a certain impact on the profit model dominated by interest income while financial technology also provides opportunities for the digitalization of banks. This research conducts a comprehensive comparative analysis to explore the impact of Fintech on traditional banking models. Through a detailed analysis, key technologies such as machine learning, computer vision, and natural language processing are examined, which have revolutionized critical areas such as customer service, risk management Nov 4, 2024 · This systematic review explores the impact of modern technology on India's financial sector, focusing on key innovations such as artificial intelligence (AI), blockchain, and fintech. rup aqja rafz xut odjkx optme siglde bci whv rsufi hzd awqzu xcatpc dngbxw jkbsqv