Fintech Banking Risk Taxonomy and Customer Protection: A Systematic Review

Authors

  • Faraz Ahmed College of Business Management, Institute of Business Management, Karachi
  • Dr. Arsalan Hussain College of Business Management, Institute of Business Management, Karachi
  • Dr. Arsalan Haneef Malik College of Business Management, Institute of Business Management, Karachi https://orcid.org/0000-0001-8940-4850
  • Naeem Uddin Kamran College of Business Management, Institute of Business Management, Karachi

Abstract

Purpose

Digital banks are crucial for the development of a digital financial ecosystem. However, robust risk management is essential to ensure secure services. This includes strong business practices, data protection, and customer education. Legal frameworks and advanced security measures are needed to address transaction risks and build customer trust.

Methodology

The current study conducted a systematic literature review on the studies based on different type of types of digital risk.

Findings

Findings suggest customer protection and satisfaction are paramount for the future of digital finance. This study's findings also inform digital financial service providers on how to strengthen security and improve customer experience. It also provides valuable insights for future research in this field.

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Published

2024-08-07