FINTECH INTEGRATION IN BANKING SERVICES: EFFICIENCY GAINS, REGULATORY CHALLENGES, AND SYSTEMIC IMPLICATIONS
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Abstract
The integration of financial technology (FinTech) into banking services has become a transformative force reshaping the global financial system. This article examines the multidimensional impact of FinTech integration on traditional banking models, focusing on efficiency enhancement, innovation in service delivery, financial inclusion, and emerging regulatory challenges. Advanced technologies such as artificial intelligence, blockchain, big data analytics, and cloud-native architectures have enabled banks to improve operational efficiency, expand access to financial services, and enhance customer experience. At the same time, FinTech-driven innovation introduces complex risks related to data privacy, cybersecurity, regulatory compliance, and systemic stability. The article emphasizes the growing role of adaptive regulatory frameworks, regulatory sandboxes, and regulatory technology solutions in balancing innovation with financial stability. Special attention is given to interconnectedness risks within the financial ecosystem and the need for responsive, goal-oriented regulation. The study concludes that while FinTech integration offers substantial economic and social benefits, its sustainable development depends on coordinated regulatory strategies and continuous collaboration among financial institutions, regulators, and technology providers.
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