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

نوع المستند : مراجعة للأدبيات


1 Egyptian Russian University, Finance

2 Ain Shams University


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.

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