There are significant changes in the banking industry today owing to the fast-growing phenomenon associated with financial technology, otherwise known as FinTech. Conventional banks are using these innovations as a way of improving their delivery and as a way of satisfying their clients new demands. Banks are able to improve efficiency and deliver more tailored services to clients by using FinTech solutions to help optimize their processes and cut expenses. Consequently, the banking model is changing due to the mentioned technologies and will continue to develop to be fast and oriented toward end-users.

Over the past few years, it has become apparent that the banking sector has witnessed massive changes and is at an age of digital transformation. With the advancement of technology, more and more banks are shifting from conventional, physical-based services to the virtual services that modern customers require. Now, we can see that this movement toward digital banking is not a trend; it is the new way to deliver and consume financial services. Online applications and the mobile interface make banking even more convenient than it has ever been, perhaps in the fruition of this period.