Emerging technologies in the banking sector: Inclusion of financial technology (Fintech) and Blockchain in banking
DOI:
https://doi.org/10.70577/asce.v4i4.544Keywords:
Business administration, Bibliographic compilation, Business economics, Financial institution, TechnologyAbstract
FinTech, or financial technology, is the use of technology to transform and innovate the delivery of financial services. Blockchain, in turn, is a ledger technology with the potential to reduce costs and improve service parameters. The objective of this research is to analyze emerging technologies in the banking sector, specifically considering the integration of FinTech and Blockchain into banking. The study employed a qualitative, analytical, and critical approach. A literature review was conducted, identifying 163 scientific articles. After applying the PRISMA method, the sample was reduced to 14 articles suitable for final drafting. The findings indicate that FinTech is useful for improving financial inclusion, especially in emerging markets and on a small scale. This technology promotes investment and expands financial access through behavioral economics and predictive algorithms. Furthermore, the integration of Blockchain is one of the most promising opportunities currently available to financial institutions, offering common solutions in banking areas such as payments, fraud prevention, loan processing, smart contracts, and others. The potential of FinTech and Blockchain to revolutionize financial inclusion was highlighted, while also primarily offering cost reduction, efficiency, and financial security; therefore, it is recommended that a case study be developed applying these technologies together.
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