TOPIC: THE FUTURE OF FINANCE: THE IMPACT OF FINTECH AND AI ON TRADITIONAL

BANKING SYSTEM

ABSTRACT:

The financial services industry is undergoing a profound transformation driven

by advancements in Financial Technology (FinTech) and Artificial Intelligence (AI).
This research explores the future of finance and examines the impact of FinTech
and AI on traditional banking systems. The study investigates how these
technologies are reshaping the landscape of banking, altering customer
expectations, and influencing regulatory frameworks.

FinTech companies are disrupting traditional banking by offering innovative

solutions in payments, lending, wealth management, and more. AI, with its
capabilities in data analysis and automation, is enhancing operational efficiency,
risk management, and customer experience within the banking sector. This
research analyzes case studies of successful FinTech and AI implementations in
banking and assesses their implications for incumbents and consumers.

The findings highlight the need for traditional banks to adapt and collaborate with
FinTech firms to remain competitive. The role of regulatory bodies in ensuring the
security and stability of financial markets while fostering innovation is also
examined. The research emphasizes the importance of customer-centric
approaches, data privacy, and ethical considerations as financial institutions
embrace FinTech and AI technologies.

As the financial industry evolves, this research provides insights into the potential
benefits and challenges posed by FinTech and AI, enabling stakeholders to
navigate this dynamic landscape effectively.
why this research?
 to provide a taxonomy of the Fintech phenomenon
 to gather “what they know” in the primary fields of Fintech from an
economic perspective
 to provide reflections on “what they do not know” and “why they do not
know” and suggest future research agenda