Our Chief Executive Officer Professor Jihad Faitrouni, speaking to Al-Nahar, listed some of the major impacts of technology on the world of finance, including “improving access and financial inclusion, reducing costs and increasing efficiency, developing investment and personal finance tools, improving security and reducing fraud, stimulating financial innovation, changing traditional business models, and enhancing the customer experience.”
However, despite the significant benefits provided by fintech, Mr. Jihad Faitrouni considered that it brought new challenges such as “increased complexity in systems, the difficulty of protecting data with increasing cyberattacks, as well as regulatory challenges related to how to deal with new financial services.
“In short, technology in the world of finance is a driving force for change, improving efficiency, inclusivity and opening up new avenues for innovation, but it also requires continued adaptation from companies and regulators.”
