Financial technologies (FinTech) and their impact on traditional financial institutions
Proceeding
- Published in:
- All-Russian scientific and practical conference «Law, Economics and Management»
- Author:
- Svetlana V. Kuznetsova 1
- Work direction:
- Экономика предпринимательства
- Pages:
- 115-116
- Received: 31 January 2025
- Rating:
- Article accesses:
- 125
- Published in:
- Информрегистр РИНЦ
1 Krasnoiarskii finansovo-ekonomicheskii kolledzh - filial FGOBU VO "Finansovyi universitet pri Pravitel'stve Rossiiskoi Federatsii"
- APA
For citation:
Kuznetsova S. V. (2025). Financial technologies (FinTech) and their impact on traditional financial institutions. Law, Economics and Management, 115-116. Чебоксары: PH "Sreda".
Abstract
The article "Financial Technologies (FinTech) and their impact on traditional financial institutions" examines the rapid development of the FinTech sector and its impact on the banking and financial industry. Key aspects such as competitive pressure, improved customer experience, cost reduction, and the need to adapt to new regulatory conditions are analyzed. Special attention is paid to how traditional financial institutions respond to the challenges and opportunities arising from the introduction of innovative technologies. The article highlights the importance of cooperation between FinTech companies and banks to create a more efficient and accessible financial ecosystem. In conclusion, the prospects for the development of FinTech and its impact on consumers are discussed, emphasizing the importance of financial inclusion and globalization in the modern world.
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