The Future of Financial Services with Technological Advances

Abstract

FinTech is the new situation facing investment banking, indicating opportunities and challenges brought about by FinTech that investment banking managers should consider planning the future of their businesses under technological advances. The paper explores the future of investment banking supported by technological advances concerning four categories of FinTech: Blockchain, digital payments, lending, and wealth management. The benefits and risks of each category of FinTech are identified compared with traditional financial service methods to propose recommendations that investment banking practices could follow to apply FinTech toward improved operational effectiveness and risk management. The findings suggested that future investment banking practices could refer to the four identified FinTech to improve operations. It is to incorporate the proposed FinTech into the current investment banking practices to support the growth of the investment banking practices in the global financial market. Future academic studies could explore the potential development of Fintech and how advanced FinTech could be incorporated into businesses of investment banking practices.