Financial Technology and Re-engineering Banking Operations: An Analytical Study in Light of Global Digital Transformation

Abstract

This study aims to analyze the relationship between Financial Technology (FinTech) and the Re-engineering of Banking Operations (BPR) within the context of global digital transformation. The study explores how FinTech contributes to improving the efficiency of banking operations, enhancing service quality, and reducing costs, with a focus on its role in supporting digital transformation strategies for banks. It also addresses the opportunities and challenges facing the banking sector in light of these rapid changes. The study relies on reviewing recent literature and analyzing both quantitative and qualitative data to provide comprehensive insights into the subject, including analytical tables to enhance understanding. The study concludes that FinTech is a fundamental driver for re-engineering banking operations, which requires banks to adopt innovative and flexible strategies to achieve competitiveness and keep pace with developments.