Studying the impact of Fintech on the Vietnamese financial services market

Abstract

Digitalization technology has become an indispensable requirement in all areas of life. From the late 18th century to the early 19th century, the First Industrial Revolution was marked by hydraulic propulsion, electric power, and computer-assisted automated production. Today the whole of humanity is witnessing a stronger transformation based on virtualization and interconnection of intelligent industrial objects. Fintech - Fintech is a representative of the Industrial Revolution 4.0. In recent years, the development of information technology has promoted the strong development of Fintech businesses, not only bringing benefits. not only for customers but also directly affect the financial services market. The article points out the impacts of Fintech on the Vietnamese financial services market and some orientations for the development of the Vietnamese financial services market.