A Study of impact of Innovation in Technology on Financial Services Sector

Abstract

The effects of technological advancements on the Financial Services Sector and insurance industries are the subject of this research. The Financial Services Sector has experienced profound change as a result of the fast development of technology, especially in the domains of AI, blockchain, and big data analytics. Customer experience, operational efficiency, regulatory compliance, and risk management are some of the areas that financial services have been affected by these technology advancements. This study examines the possibilities and threats posed by technology advancements in the Financial Services Sector through an exhaustive literature review and practical investigation. According to the results Financial institutions, regulators, and customers can all benefit from a deeper comprehension of the consequences of technology-driven developments.