Analysis of FinTech Enablers and Role of Future Internet of Things (IoT) in the New-Age Business World

Abstract

Financial institutions work very hard to make finance smarter in the present global trend to reap the rewards of digitization. Financial technology (Fintech) uses various modern disruptive technologies, including AI, 5G/6G, Blockchain, Metaverse, IoT, and others, in the financial sector to improve client services. Many critical financial services and procedures, including lending, verification, fraud detection, quality maintenance, credit scoring, and many more, will be streamlined and improved by the advent of technology. However, there is a need for the development of innovative financial products and a supporting technological environment. To introduce ICT solutions, various tech giants have emphasized Fintech. In this book, we first imagine the emerging trends and key Fintech applications in 2030. For some use cases, we also try to present a high-level framework of the Fintech enablers, such as IoT, 5G, Digital Twins, and Metaverse. We also outline future directions for Fintech research while looking ahead to potential difficulties.