Abstract
The rapid growth of technology has influenced different industry sectors including the financial sector. The world of finance and banking is transformed significantly replacing conventional customer-facing services with application-based digital processes. New financial service providers recognized as Fintech companies have been raised as a result of technological advancements in the financial sector aiming to launch technology-based financial services and improve customer experience. Despite the promising role of fintech to provide safer, faster, and cheaper financial services for customers, there are still some challenges in the application of fintech. Besides, there are a great number of innovation opportunities to be employed in offering financial services by fintech companies considering constantly changing customers’ preferences and habits regarding the employment of new technologies in the financial sector. This chapter objectively clarifies the building blocks of fintech and how it has shifted the financial services (FS) sector, the challenges of employing fintech, and the future of fintech, catalyzing to provide a common understanding regarding fintech and futuristic perspectives through its development.
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Taherdoost, H. (2023). Fintech: Emerging Trends and the Future of Finance. In: Turi, A.N. (eds) Financial Technologies and DeFi. Financial Innovation and Technology. Springer, Cham. https://doi.org/10.1007/978-3-031-17998-3_2
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