Author(s)

Miao Yu ¹

Affiliation(s)

¹ Zhengzhou College of Finance and Economics, Zhengzhou, 450000, China

Corresponding Author

Miao Yu

ABSTRACT

With the rapid development of technology, financial technology has emerged as the innovative engine driving the financial industry, profoundly impacting traditional financial systems and leading future trends. In this digital era, financial institutions must reassess financial technology and actively optimize their business models to adapt to the ever-changing market environment. Financial technology has made significant strides by employing advanced technological means, not only in the optimization of core systems but also in achieving a qualitative leap in front-end user experiences. This series of innovations and improvements have fundamentally transformed the delivery of financial services, providing users with more convenient and efficient financial experiences. The development of financial technology not only propels innovation in the technological aspect of the financial industry but also brings positive changes in business models and user experiences. Financial institutions will need to embrace this trend actively, continuously optimizing their technological infrastructure and service systems to better meet the evolving market demands, ensuring competitiveness in the digital era.

KEYWORDS

Financial technology; traditional financial systems; impact; future trends

CITE THIS PAPER

Miao Yu, The Impact of Financial Technology on Traditional Financial Systems and Future Trends. Accounting, Auditing and Finance (2023) Vol. 4: 31-36. DOI: http://dx.doi.org/10.23977/accaf.2023.040306.

REFERENCES

[1] Hu, Y. (2022). The Spillover Effects of Financial Technology on Traditional Finance. Shanghai University of Finance and Economics. 
[2] Chen, C. (2021). Financial Technology and Its Impact on Traditional Financial Systems and Future Directions. National Circulation Economy, (36), 132-134. 
[3] Lin, C. (2021). Research on the Mechanism of Financial Technology Serving the Real Economy. Sichuan University. 
[4] Xia, Q. (2021). The Impact of Financial Technology on the Stability of the Financial System. Jiangsu University. 
[5] Jiang, S. (2020). Research on Banking FinTech: Development Measurement, Performance Evaluation, and Influencing Factors. Central University of Finance and Economics. 
[6] Liu, S. (2020). Research on the Spillover Effects of Financial Technology Innovation Risks. Chongqing Technology and Business University.

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