Disruptive Finance: Facing Challenges and Finding Opportunities in a New Era

Abstract

Technological developments often open up new possibilities for society. These new opportunities that arise often create benefits and advantages for society. But sometimes, the emergence of new technology makes changes that disrupt the existing conditions, where things that were previously there are replaced by something new. In this case, technology in the financial sector significantly impacts the people’s economy. This research will be carried out to examine how financial technology development raises new problems and opportunities. The method used in this research is descriptive qualitative research. Some of the data used in this study were obtained from the results of literature studies on previous studies. The results of this study then found that technological innovations in the financial industry can have a positive impact. This can be seen through the growth of related business sectors and the overall financial system efficiency increase. But of course, there are challenges, both in the formation of new regulations and adaptation to existing infrastructure. In facing challenges and taking advantage of existing opportunities, governments, financial institutions, and industry players must adopt a proactive approach.