Exploring Global Fintech Advancement and Application

Abstract

The strategic emphasis of financial service providers on leveraging new technologies to enhance the accessibility and quality of financial services has given rise to the FinTech concept. The growing economies of Saudi Arabia, Qatar, and Turkey have actively embraced FinTech development in recent years. This chapter comprehensively examines the state of FinTech in these nations, offering insights into current dynamics and future trends. Evaluations underscore that banking and payment services are pivotal sectors in these countries' FinTech endeavors. However, concerns persist, particularly regarding legal frameworks and security risks associated with user financial transaction data. The financial and regulatory support extended by Saudi Arabia, Qatar, and Turkey to FinTech companies has spurred rapid growth in recent years. This upward trajectory is anticipated to persist, with these countries increasingly relying on technology to propel advancements in financial services.