FinTech enablers, use cases, and role of future internet of things

Document Type : Translation


Department of Finance and Banking, Faculty of Accounting and Management, Allameh Tabatabai University, Tehran, Iran


In the current global trend, financial organizations strive extensively towards smartening finance to derive the benefits of digitalization. In such an effort, Financial Technology (Fintech) involves usage of several contemporary disruptive technologies such as AI, 5G/6G, Blockchain, Metaverse, IoT, etc., in financial industry to add value to the customer services. By the inception of technology, several major financial services and processes such as lending, verification, fraud detection, quality maintenance, credit scoring, and many more will be simplified and augmented. However, there is a need for research and innovation of disruptive financial products and the enabling ecosystem of technologies. Consequently, several tech-giants have focused their attention on Fintech to introduce Information and Communication Technology (ICT) solutions. In this manuscript, firstly, we envision the future trends and driving applications of Fintech that would emerge during 2030. Further, we attempt to provide a high-level framework of the enablers of Fintech including IoT, 5G, Digital twins and Metaverse for certain use cases. In addition, we provide directions for future Fintech research while anticipating the challenges ahead.


Main Subjects

Articles in Press, Accepted Manuscript
Available Online from 05 December 2023
  • Receive Date: 25 September 2023
  • Revise Date: 16 November 2023
  • Accept Date: 18 November 2023