The Impact of Digital Transformation on the Financial Ser-vices Industry: A Comprehensive Review

Abstract

This paper studies the different aspects of how different fields of technologies are applied to digital transformations and fin-tech and what risks might be met. It is an important issue because fintech and digital transformation are the crucial points that make companies more digital. This paper will take about fintech and digital transformation through topics including blockchain and NFT, robo-advisor and artificial intelligence, peer-to-peer lend-ing, and online payments. These four factors are the primary factors that lead to enterprise digitization. However, while these four factors are so considerable, the lack of supervision would also cause a lot of trouble that violates peoples property. People have experienced losing their property when there are no sufficient policies that regulate new technologies. This paper will specifically talk about how these factors are important and relevant to fintech and digital transformation and what might be the potential risks if there are no proper actions that restrict these factors. A healthy and compliant trend is the necessary path that leads to prosperity.