Financial Technology (FinTech) and the Future of Banking: Risks and Opportunities

Abstract

This paper examines the transformative impact of Financial Technology (FinTech) on the global and Pakistani banking sectors. It explores how FinTech innovations such as block chain, artificial intelligence, mobile banking, and digital payments are reshaping traditional banking models. The study also analyses the associated risks, including cyber security threats, regulatory challenges, and digital inequality. Using a qualitative approach supported by empirical evidence, the paper identifies opportunities for sustainable financial inclusion and efficiency improvement in the banking industry. The findings highlight the need for a balanced regulatory framework that promotes innovation while ensuring consumer protection, data privacy, and systemic stability