Fintech Banking Risk Taxonomy and Customer Protection: A Systematic Review
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.