Fintech Applications in Financial Markets and Future Implications

Abstract

The relevance of bringing the financial competitive environment up to par with global norms will directly affect the contribution of technology to the financial sector, and the importance of addressing evolving societal requirements in tandem with this contribution will directly correlate with it. Additionally, as financial technology advances, it will become more crucial than ever to fulfill people's shifting requirements. This study examines the state of the Fintech industry in Azerbaijan and around the world in addition to providing information about the term "Fintech," its historical development, ecosystem, technological infrastructure, and application areas. It also evaluates the development dynamics of the Fintech industry in Azerbaijan using the findings from one-on-one interviews with the top local Fintech company managers.