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The Effects of Digital Transformation and Fintech on Banking Industry: Risks and Opportunities Perspectives

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Last updated: 29 Dec 2024

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إدارة التمويل

Abstract

The rise of Fintech in the past decade has received growing scholarly attention. This research surveys Fintech-related articles published in finance arena, providing a review of various theoretical frameworks used by previous research. Moreover, future research agendas in Fintech have been presented.
To capture the studies investigating Fintech adoption, this research employs each of financial technology, mobile payment, digital payment, crowdfunding, p2p lending, and digital investment. In addition, we have presened opportunities and challenges facing banking industry under such innovative Fintech products and services, supported by some scenarios for banks, regulators and FinTech operators.
Overall, 2021 was a very promising year for FinTech, and the current trends will almost surely grow in popularity as 2022 unfolds. Traditional financial institutions and emerging FinTech companies should keep an eye on these developments in order to get a competitive advantage over the competition and maintain their customer base while aiming to grow in an increasingly digitised world.
We have to hedge against the operating risks stemming from financial innovation, like safety of deposits from moral hazard, security in payments, data transfers and privacy considerations.

DOI

10.21608/ajss.2024.231632.1007

Keywords

digital transformation, Digital Risk, FinTech, RegTech

Authors

First Name

Muhammed

Last Name

Samy Dabour

MiddleName

-

Affiliation

Egyptian Russian University, Finance

Email

dabor_creative@yahoo.com

City

-

Orcid

-

First Name

Nader

Last Name

Allber Fanos

MiddleName

-

Affiliation

Ain Shams University

Email

naderalberfanous@yahoo.com

City

-

Orcid

-

Volume

2

Article Issue

1

Related Issue

43048

Issue Date

2024-01-01

Receive Date

2023-08-24

Publish Date

2024-01-01

Page Start

127

Page End

156

Print ISSN

2974-3524

Online ISSN

2974-3532

Article File

AJSS_Volume 2_Issue 1_Pages 127-156.pdf

PDF . 744.9kB

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https://ajss.journals.ekb.eg/article_342118.html

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https://ajss.journals.ekb.eg/service?article_code=342118

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342,118

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مراجعة للأدبيات

Type Code

2,731

Publication Type

Journal

Publication Title

المجلة الأكاديمية للعلوم الإجتماعية

Publication Link

https://ajss.journals.ekb.eg/

MainTitle

The Effects of Digital Transformation and Fintech on Banking Industry: Risks and Opportunities Perspectives

Details

Type

Article

Created At

18 Dec 2024