FinTech Companies: Trends and Opportunities in the Banking Sector

Over the past decades, FinTech companies have significantly expanded and gained importance in the financial and banking markets, driven by rapid advancements in digital technologies and technical innovations. These developments have opened new avenues for creating and delivering financial services and products, making innovative offerings more accessible. FinTech has catalyzed evolutionary changes in the global financial and banking sectors, transforming them through digital innovation and elevating them to new qualitative and quantitative levels. While FinTech companies pose additional risks and threats to banks by acting as competitors in traditional banking areas and potentially absorbing them, they also present new opportunities for these institutions. This chapter is dedicated to exploring and elucidating these issues.