Fintech Frenzy:  An engaging review of the transforming financial services

Shahsuzan Zakaria; Suhaily Maizan Abdul Manaf; Mohd Talmizie Amron

doi:10.21834/e-bpj.v9iSI19.5775

Authors

Shahsuzan Zakaria Faculty of Business and Management, Universiti Teknologi MARA, Shah Alam, Malaysia
Suhaily Maizan Abdul Manaf Faculty of Business and Management, Universiti Teknologi MARA, Dungun, Malaysia
Mohd Talmizie Amron College of Computing, Informatics and Mathematics, Universiti Teknologi MARA, Kuala Terengganu, Malaysia

DOI:

https://doi.org/10.21834/e-bpj.v9iSI19.5775

Keywords:

Financial Technology, Fintech Opportunities, Fintech Challenges, Innovation Acceptance

Abstract

Advancements, opportunities, and challenges in financial technology (fintech) are comprehensively reviewed in this paper. Fintech, powered by AI and blockchain, revolutionises access to financial services. The narrative review analyses academic databases and industry reports, highlighting fintech themes like mobile payments, peer-to-peer lending, robo-advisors, and blockchain. Opportunities include accessible services, efficiency, and cost savings. However, challenges like cybersecurity, regulation, financial inclusion, resistance to change, and data privacy must be addressed. Responsible and ethical fintech practices are crucial for security, regulation compliance, inclusion, and confidentiality. Fintech's potential to transform finance and enhance lives worldwide is emphasised.

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