The Impact of Fintech on Banks with Historical, Contemporary and Future Perspective with Legal Perception

Abstract

Even before the advent of the financial technology innovation known as FinTech, financial technology had extensively been used by banking and financial sectors. According to FinTech's development up to this point, FinTech has an impact on the Bank's operations in historical, contemporary and future perspectives. These facts form the basis of this research, which uses Pakistan as a case study to attempt to provide an evocative analysis of banks and fintech from the historical, contemporary and future perspectives along with legal perception. This research employs both qualitative method techniques and a descriptive-analytic research methodology. To conduct this descriptive study, we critically analyse a number of pertinent scientific publications, information about the FinTech phenomena in Pakistan, and supporting documents from banking organisations. What occurred to banks and FinTech from the historical, contemporary and future perspectives is revealed by the analysis findings.