Digital finance and future of banks and financial services

Vinay Kandpal, Peterson K Ozili, Mary Jeyanthi, Deepak Ranjan and Deep Chandra

MPRA Paper from University Library of Munich, Germany

Abstract: Digital finance is revolutionizing the financial sector in significant ways. Its role in shaping the future of banks and financial services is a topic of widespread interest in the policy and academic literature. This study examines the role of digital finance in shaping the future of banks and financial services. The study shows that digital finance innovations are disrupting banking and the nature of financial services. Financial institutions that will survive in the future must undertake digital transformation to compete for market share in new customer segments and to meet the changing needs and preferences of customers. While nobody knows for sure what the future of banking and financial services will be in the distant future, it is certain that the digital finance revolution would change the face of banking and financial services in the future. Regulation, technology, and geopolitical factors could alter the future of banking and financial services.

Keywords: digital finance; banks; financial services; future. (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2025
New Economics Papers: this item is included in nep-fle, nep-fmk and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:124267

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