Senior Techno and Functional Project Manager - Strategic Level For Nawah Energy Company, Emirates Nuclear Energy Corporation and Barakah One Company; Centralised Govt Employee - Abu Dhabi, UAE.
Review Article
World Journal of Advanced Research and Reviews, 2024, 24(01), 2053-2059
Received on 12 September 2024; revised on 19 October 2024; accepted on 21 October 2024
In recent years, the entire financial landscape has experienced a significant transformation due to the rise of financial technology simply called Fintech, which has redefined the transaction processes and democratized the access to financial services. This review focuses on how fintech is transforming transactions by enhancing efficiency, increasing security, providing transparency, and creating accessibility for consumers and businesses alike.
Key technologies such as blockchain, artificial intelligence, smart contracts, digital wallets, and mobile applications are transforming transactions, reducing costs, and improving user experiences. The integration of fintech solutions with the above mentioned key technologies is creating a more secure and interconnected ecosystem, reshaping and transforming the transactions. This article examines the impact of fintech on customer experiences through digital platforms and real-time transactions, as well as its potential to drive innovation and promote sustainability in payment services. It explores benefits, challenges. It also discusses regulatory considerations, collaboration opportunities between traditional banks and fintech startups, and emerging banking models. Overall, the review highlights fintech's transformative potential in revolutionizing energy payments and shaping the future of transactions.
Financial technology (FinTech); Transactions; Digital platforms; Real-time transactions; Blockchain; Artificial Intelligence
Preview Article PDF
Veera Vakkapatla. Technological transformation of transactions with the rise of FINTECH. World Journal of Advanced Research and Reviews, 2024, 24(1), 2053-2059. Article DOI: https://doi.org/10.30574/wjarr.2024.24.1.3231