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Presentation 14

FinTech combines financial services with technology to enhance accessibility, speed, and security, exemplified by innovations like mobile banking and cryptocurrencies. It has evolved through various phases, from infrastructure development to the current focus on AI and blockchain, while offering benefits such as instant transactions and personalized services. Future trends include Central Bank Digital Currencies (CBDCs), decentralized finance (DeFi), and advancements in quantum computing.

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17 views11 pages

Presentation 14

FinTech combines financial services with technology to enhance accessibility, speed, and security, exemplified by innovations like mobile banking and cryptocurrencies. It has evolved through various phases, from infrastructure development to the current focus on AI and blockchain, while offering benefits such as instant transactions and personalized services. Future trends include Central Bank Digital Currencies (CBDCs), decentralized finance (DeFi), and advancements in quantum computing.

Uploaded by

sairakhanbloch7
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Title: Introduction to FinTech

Subtitle: Evolution, Tools, and


Future Trends
Khuzaima Saeed
Chapter 1
What is FinTech?
• Definition:
• FinTech = Financial + Technology
• "Technologically enabled financial innovation that transforms
financial services through software, algorithms, and digital
platforms."
• Key Characteristics:
• Automates financial processes
• Enhances accessibility, speed, and security
• Examples: Mobile banking, cryptocurrency, AI-driven loans
Impact on Society:

Why FinTech Financial Inclusion: Reaches unbanked


Matters? populations.
Cost Reduction: Lowers fees for transactions and
services.
User Experience: 24/7 access via smartphones.

Innovation: Disrupts traditional banking (e.g.,


blockchain, robo-advisors).
Example: Mobile wallets like Paytm or Venmo or
jazz cash, sadapay etc
FinTech 1.0 FinTech 3.0
• Infrastructure building (telegraph, • Post-financial crisis innovation (Bitcoin,
Evolution of Fedwire, credit cards). blockchain).

FinTech
Timeline:
1967–2008 2014–Present

1886–1967 2008–2014

FinTech 3.5
FinTech 2.0
• Global expansion (AI, IoT, emerging
• Digital shift (ATMs, online banking). markets).
• Visual: Timeline graphic with key
milestones.
Key Technologies in FinTech
• Artificial Intelligence (AI):
○Chatbots, fraud detection, personalized banking.
• Blockchain:
○Decentralized ledgers (e.g., Bitcoin).
• Robotic Process Automation (RPA):
○Automates repetitive tasks (e.g., loan processing).
• APIs (Application Programming Interfaces):
○Connects apps for seamless services (e.g., payment gateways).
Example: Alipay uses AI for credit scoring.
Tools & Techniques

• RPA (Robotic Process Automation):


○Reduces human error in data entry.
• iPaaS (Integration Platform as a Service):
○Connects cloud services (e.g., Stripe for payments).
• Bots:
○Customer service automation (e.g., Erica by Bank of America)..
Benefits of FinTech

• Speed: Instant transactions (e.g., UPI in India).


• Transparency: Real-time tracking via blockchain.
• Accessibility: Services for rural/unbanked areas.
• Personalization: AI-driven financial advice.
• Case Study: M-Pesa in Kenya for mobile money.
Challenges

• Security Risks: Cyberattacks, data breaches.


• Regulation: Compliance with laws (e.g., GDPR).
• Customer Trust: Overcoming skepticism.
• Digital Divide: Limited internet access in rural areas.
• Discussion: How can FinTech address these challenges?
Future of FinTech
Trends to Watch:

• CBDCs (Central Bank Digital Currencies):


○Government-backed digital currencies.
• DeFi (Decentralized Finance):
○Peer-to-peer lending without banks.
• Quantum Computing:
○Ultra-fast data processing for risk analysis.
Summary
Key Takeaways:

FinTech merges finance and technology for innovation.

Evolved from infrastructure (telegraphs) to AI/blockchain.

Tools like RPA and APIs drive efficiency.

Future trends: CBDCs, DeFi, quantum computing.


Book: "FinTech and
Cryptocurrency" by Mohd Naved
et al.
Websites: World Bank’s FinTech
reports, TechCrunch FinTech
section.

Further
Podcast: "Breaking
Reading/Resources Banks" (Spotify/Apple).

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