FINTECH INNOVATIONS AND THE TRANSFORMATION OF TRADITIONAL BANKS
Keywords:
Keywords: fintech, neobanks, transformation, digital bank, mobile payments.Abstract
Abstract: In this article, the impact of fintech innovations on the traditional
banking sector is analyzed. Fintech products, such as mobile payments, neobanks, and
solutions based on artificial intelligence (AI), are posing new challenges to banks'
business models. The article examines types of fintech and their impact on banking
services, as well as the adaptation strategies of traditional banks, which include digital
transformation, investment in innovations, and open banking.
Furthermore, the development of the fintech ecosystem in Uzbekistan and
changes in the local banking sector are analyzed. In conclusion, findings on future
trends and the role of cooperation between banks and fintech in shaping the future of
financial services are presented.
References
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