Revolutionizing Banking: The Role of AI and Fintech Innovations in Modernizing Traditional Financial Systems

Author(s)	Arnav Singh
Country	India
Abstract	The financial services industry is undergoing a profound transformation driven by the integration of artificial intelligence (AI) and financial technology (fintech). AI-powered automation is streamlining financial operations, enhancing data analytics, and improving risk management, while fintech innovations are expanding financial accessibility and redefining customer experiences. This paper explores how AI and fintech are reshaping traditional banking models, from algorithmic trading and robo-advisors to digital payments and blockchain technology. The study also examines the implications of these advancements on consumers, businesses, and regulatory frameworks, highlighting the challenges of data security, ethical concerns, and financial inclusion. As the digital financial landscape continues to evolve, emerging trends such as open banking, central bank digital currencies (CBDCs), and AI-driven compliance solutions will play a pivotal role in shaping the future of global finance.
Keywords	artificial intelligence, fintech, financial services, digital banking, blockchain, risk management, regulatory compliance, financial inclusion
Field	Computer > Artificial Intelligence / Simulation / Virtual Reality
Published In	Volume 7, Issue 2, March-April 2025
Published On	2025-03-03
DOI	https://doi.org/10.36948/ijfmr.2025.v07i02.37082
Short DOI	https://doi.org/g86xdf

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International Journal For Multidisciplinary Research