Integration and regulation of emerging technologies in financial services systems.

Abstract

The Fintech sector has transformed the global financial system through the integration of emerging technologies such as artificial intelligence, blockchain and mobile applications. This phenomenon has generated a significant impact on the efficiency, accessibility and democratization of financial services, while at the same time posing regulatory and security challenges. Therefore, this study focused on analyzing the impact of the Fintech sector on the global financial system, by evaluating its main technological innovations, benefits, regulatory challenges and its contribution to financial inclusion. In addition, to propose solutions for efficient regulation that balances innovation with consumer protection. To this end, an analysis was carried out based on the bibliographic review, complemented by the analysis of cases of implementation of Fintech technologies in various regions of the world. Likewise, the PESTEL method was implemented to evaluate the factors that influence the development of fintechs. The results demonstrated that Fintech solutions have increased efficiency and reduced operating costs in the financial sector, while promoting financial inclusion. However, regulatory challenges remain, especially around data protection and cybersecurity. In conclusion, fintechs have been fundamental for financial inclusion, although flexible and adaptive regulatory frameworks must be implemented that guarantee both innovation and consumer protection, with emphasis on international cooperation and the creation of common standards.

Keywords:

Digital financial services, Regulation, Financial democracy, Digital banking.