FinTech review on the banking industry

Financial technologies (FinTech) have currently transformed the entire financial industry and have the potential to change not only the principles of some financial products, but also the basic features of the financial system. Fintech plays an important role as a financial intermediary for society and people's daily activities around the world. The popularity of fintechs has created a new competitive environment among banks, as fintechs reduce bureaucratic requirements and make financial institutions like banks more convenient, efficient and faster to provide services. Considering the movement of banks towards new technologies in the world, it is necessary to have a general understanding of the level of acceptance of new technologies in order to align with global growth and keep pace with the products offered by service providers. The purpose of this research is to investigate fintech in the banking industry. This is a review article that according to the search in the databases, the findings showed that according to the leap that the world has had in the use of innovations in the field of financial technology and its potential capacity in advancing the goals of accounting and auditing as well as the formation of new businesses in the field Modern financial technologies in Iran, identifying, understanding and predicting people's behavior and encouraging them to accept and use these technologies are essential for the development of sustainability and competitive advantage as well as social welfare. As a result, fintechs and financial startups have caused vast changes in this industry.