IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

FinTech in Banks: Opportunities and Challenges

FinTech in Banks: Opportunities and Challenges
View Sample PDF
Author(s): Rabab Ebrahim (University of Bahrain, Bahrain), Sumathi Kumaraswamy (University of Bahrain, Bahrain)and Yomna Abdulla (Univesity of Bahrain, Bahrain)
Copyright: 2021
Pages: 10
Source title: Innovative Strategies for Implementing FinTech in Banking
Source Author(s)/Editor(s): Yousif Abdullatif Albastaki (Ahlia University, Bahrain), Anjum Razzaque (Ahlia University, Bahrain)and Adel M. Sarea (Ahlia University, Bahrain)
DOI: 10.4018/978-1-7998-3257-7.ch006

Purchase

View FinTech in Banks: Opportunities and Challenges on the publisher's website for pricing and purchasing information.

Abstract

There has been an extensive boost in the use of FinTech in the Banking sector during the last few years. This chapter provides a comprehensive overview of the new opportunities offered by FinTech to the banking sector, its prospective risks, and the possible challenges to be faced in its adaptation. The authors propose that the new opportunities of FinTech include better digital banking experience, personalized customer services, high-level data security, cost-effective, and efficient services. On the other hand, FinTech results in risks such as security risk, technical risk, regulation risk, financial risk, and reputation risk. Finally, they suggest that the possible challenges of FinTech are a technological adaptation, risk reduction, regulations, and human capital employment.

Related Content

Elisabete S. Vieira, Mara Madaleno. © 2025. 30 pages.
Helena Costa Oliveira, Inês Sousa, Susana Bastos. © 2025. 18 pages.
Federico Galán-Valdivieso, Isabel Cristina Mañas-Álvarez, María José Rodríguez-Martínez, María del Mar Gálvez-Rodríguez. © 2025. 30 pages.
Catarina Cepeda, Albertina Paula Monteiro, Amélia Cristina Ferreira da Silva, Diana Silva. © 2025. 34 pages.
Natália Lemos, Sara Serra, Lurdes R. Silva, Patrícia Quesado, Kátia Lemos. © 2025. 28 pages.
Albertina Paula Monteiro, Catarina Cepeda, Cristina Macedo, Carla Cardoso, Catarina Oliveira. © 2025. 24 pages.
Catarina Cepeda, Amélia Silva, Francisco Carreira. © 2025. 22 pages.
Body Bottom