ROLE OF FINTECH IN INTEGRATING DIGITALLY BASED SERVICES: A CASE STUDY OF DMBS.

Abstract:

The rapid evolution of financial technology (fintech) has revolutionized the way financial services are delivered and consumed globally. This case study explores the role of fintech in integrating digitally based services, focusing on the example of Digital Mobile Banking Services (DMBS).

DMBS refers to the provision of banking services through digital channels, primarily accessed through mobile devices. The study examines how DMBS has transformed the traditional banking landscape, enabling financial institutions to reach a wider customer base and offering convenient, accessible, and personalized financial solutions.

The research methodology employed in this case study includes a combination of qualitative and quantitative approaches. Primary data is collected through interviews with key stakeholders in the fintech and banking sectors, while secondary data is obtained from industry reports, academic literature, and relevant publications.

The findings indicate that fintech has played a pivotal role in the integration of digitally based services in the context of DMBS. Fintech innovations such as mobile banking applications, biometric authentication, blockchain technology, and artificial intelligence have enabled financial institutions to provide seamless, user-friendly, and secure digital banking experiences.

The study also highlights the benefits of DMBS for both financial institutions and customers. For financial institutions, DMBS has led to cost savings through reduced infrastructure and operational expenses, improved efficiency, and increased customer retention. Customers, on the other hand, have gained access to a wide range of financial services, including payments, transfers, loans, investments, and personalized financial advice, all available at their fingertips.

However, the study also identifies several challenges in the integration of digitally based services through fintech. These include cybersecurity risks, regulatory compliance, data privacy concerns, and the digital divide, which limits access to DMBS for underserved populations.

The case study concludes by emphasizing the importance of fostering collaboration between fintech firms, traditional financial institutions, regulators, and policymakers to address these challenges and maximize the potential of DMBS. It underscores the need for continuous innovation, investment in digital infrastructure, and the development of robust regulatory frameworks to ensure the secure and inclusive integration of fintech-based services in the banking sector.

Keywords: Fintech, Digital Mobile Banking Services (DMBS), Digitally Based Services, Financial Technology, Integration, Case Study.

ROLE OF FINTECH IN INTEGRATING DIGITALLY BASED SERVICES: A CASE STUDY OF DMBS. GET MORE MASTERS COMPUTER SCIENCE

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