Financial Technologies in the Era of Digital Transformation: Strategic Dimensions and Challenges

Abstract

Today, financial technologies (fintech) are defining a new era in the world of finance, changing the traditional approach to the provision and use of financial services through innovative technological solutions. The relevance of the topic of this study is determined by the rapid pace of their development and the growing impact on the global economy. Security, regulation, and data privacy are important aspects that necessitate continuous improvement and adaptation of fintech systems to meet modern challenges. This study aims to identify strategic dimensions and challenges in the context of the digitalization of the economy. A critical analysis of scientific articles, books, and other sources related to financial technologies in the context of digitalization was conducted. Scientific research methods such as systematization of literary sources, classification, and critical analysis of information were used. Data from various sources were summarized, classified, and analyzed to identify problems in the development of financial technologies. The study identified and classified financial technologies into financial services support technologies, blockchain and Big Data, biometric technologies, digital currency technologies, and artificial intelligence technologies. The article also identifies the stages of development of financial technologies in the global financial market and a number of challenges that impede their further development. Further research in the field of financial technologies could focus on the interaction between fintech innovations and traditional financial structures, assessing the efficiency and security of these technologies in the growing digital environment. Additional research could also look at the impact of global trends on the evolution of financial technology and how best to regulate this development.