Impact of Generative AI on FINTECH in Africa

Klemens Katterbauer, Hassan Syed, Laurent Cleenewerck, Rahmi Deniz Özbay and Sema Yilmaz
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Klemens Katterbauer: Department of Earth Science and Global Management, Euclid University, Greater Banjul Republic of The Gambia, West Africa
Hassan Syed: Department of Economic & Finance, Euclid University, Greater Banjul Republic of The Gambia, West Africa
Laurent Cleenewerck: Department of Theology, Greater Banjul Republic of The Gambia, West Africa
Rahmi Deniz Özbay: Department Business Administration, İstanbul Ticaret University, İstanbul, Türkiye
Sema Yilmaz: Department of Economics, Yıldız Technic University, İstanbul, Türkiye

Yildiz Social Science Review, 2024, vol. 10, issue 1, 43-53

Abstract: The financial technology (Fintech) industry in Africa is expanding and growing quickly. Despite several regulatory contexts, political, economic, and regulatory obstacles, Fintech is booming throughout the continent. Over the past few years, the information technology in-dustry has grown dramatically, and a large number of these new businesses are focused on upending the financial technology industry. Because it can understand customer preferences, spending habits, and financial goals, generative AI has a lot of promise to provide personalized financial recommendations or solutions to any individual. With the new paradigm of gener-ative AI playing a more critical role, it may have significant impact on fostering the growth of Fintech within Africa. The article provides a comprehensive review of the current st

Keywords: Financial inclusion; fintech industry in Africa; generative AI; information technology growth; regulatory challengesJournal: Yildiz Social Science Review (search for similar items in EconPapers)
JEL-codes: F00 F30 G00 G10 K00 K20 M00 M20 O10 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aye:journl:v:10:y:2024:i:1:p:43-53

DOI: 10.51803/yssr.1440501

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