The world of financial services has reached a point of no return along the road of digital transformation. A combination of several factors is driving this shift: the rise of big data, consumers' demands for convenient and affordable financial services, and the proliferation of mobile technology are all responsible. Financial services companies must adopt automated, data-drive solutions to successfully compete against new, technology-based entrants. Although the rules surrounding developing fintech are still under construction, its potential to improve operational efficiency, safeguard investments, and fortify cybersecurity, is uncapped. At this point in the game, technology adoption is mandatory for financial institutions.