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Digital finance and future of banks and financial services

Author

Listed:
  • Kandpal, Vinay
  • Ozili, Peterson K
  • Jeyanthi, Mary
  • Ranjan, Deepak
  • Chandra, Deep

Abstract

Digital finance is revolutionizing the financial sector in significant ways. Its role in shaping the future of banks and financial services is a topic of widespread interest in the policy and academic literature. This study examines the role of digital finance in shaping the future of banks and financial services. The study shows that digital finance innovations are disrupting banking and the nature of financial services. Financial institutions that will survive in the future must undertake digital transformation to compete for market share in new customer segments and to meet the changing needs and preferences of customers. While nobody knows for sure what the future of banking and financial services will be in the distant future, it is certain that the digital finance revolution would change the face of banking and financial services in the future. Regulation, technology, and geopolitical factors could alter the future of banking and financial services.

Suggested Citation

  • Kandpal, Vinay & Ozili, Peterson K & Jeyanthi, Mary & Ranjan, Deepak & Chandra, Deep, 2025. "Digital finance and future of banks and financial services," MPRA Paper 124267, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:124267
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    digital finance; banks; financial services; future.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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