IMPACT OF FINANCIAL TECHNOLOGY (FINTECH) ON TRADITIONAL BANKING: ANALYZING THE ADOPTION AND IMPLICATIONS OF FINTECH INNOVATIONS ON TRADITIONAL BANKING OPERATIONS, CUSTOMER BEHAVIOR, AND REGULATORY FRAMEWORKS
Keywords:
Financial technology (fintech), Traditional banking, Banking operations, Customer behavior, Transformative effects, Cost reduction, Risk management, Digitalization, Financial services, Peer-to-peer lending, Market share.Abstract
This comprehensive article examines the impact of fintech on traditional
banking, focusing on the adoption and implications of fintech innovations on banking
operations, customer behavior, and regulatory frameworks. It discusses the
transformation of banking operations through automation, digitalization, and improved
risk management practices facilitated by fintech. Additionally, it explores the changing
customer expectations and preferences, emphasizing the need for traditional banks to
adapt to personalized and convenient banking experiences.
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