Consequences of Fintech on the Profitability of Banking System

Recently, technology is growing in most fields involving financial issues. Financial technology is considered a creative innovation that attracts more customers and enhances the profitability and performance of many banks. This study revises the literature review concerning the role of financial technology (Fintech) in enhancing the performance of banks. By reviewing previous studies, the results of most of the studies confirmed the effect of Fintech on bank performance measured by ROA and ROE, including studies about the banks of Jordan. It was found that Fintech can really improve the performance of banks measured by return on assets (ROA) and returns on equity (ROE). The study recommends that the commercial banks in Jordan should pay attention to new financial innovations and increase their dependence on financial technology because of the positive impact on profitability and to enhance excellence in customer service to raise the level of satisfaction with banking services.