In mid 2000s, a new Fintech era has commenced which is known as “Crowd lending” or “FinTech Credit” whereby credit activities are realized online through internet platforms that match borrowers with lenders (investors). Those kinds of lending activities are named Peer to Peer Lending (P2P). The purpose of this study to elaborate the functioning and regulatory framework of P2P lending in US and China. Those two countries can be considered as two conspicuous example of the application of P2P lending especially in terms of regulation. China transformed its P2P market in 2015 after a long loose regulation period and US from the very beginning applied a strict regulation on the market. By that way, a set of terms of regulation is aimed to be proposed especially for the emerging market countries. It is thought that P2P lending can contribute to the economic development of the emerging market countries if it is applied properly. The contribution of this study to newly developing literature is to provide a comparison and also a set of terms of regulation to be applied in the emerging market countries.

The current financial services sector is realising considerable changes in its operations due to development in technology and embracing of digital platforms. This evolution is changing the established concepts of business, consumers and channels of delivery of services. Financial services firms are changing the way they work through digital transformation due to developments in technology, changes in customer needs, and an increase in emphasis on sustainability. Understanding the opportunities, risks, and new trends in digital transformation is the focus of this paper. Opportunities include efficient real-time decision-making processes, increased transparency and better process controls, which are balanced by the threats of change management, dubious organization-technology fit, and high implementation costs. The study also examines recent advancements, including the application of machine learning and artificial intelligence, developments in mobile and online banking, integration of blockchain, and increasing focus on security and personalised banking. A literature review yields some findings from different studies on rural financial services, the evolution of the blockchain, drivers of digital transformation, cloud-based learning approaches, and emerging sustainability practices. All of these results suggest that more strategic planning, analytics, and more focus on ensuring that organisational objectives are met with transformations should be pursued. Hence, this research findings add to the existing literature in determining how innovative and digital technologies are likely to transform the financial services sector and advance sustainability.

Innovations in computing and communication technologies are reshaping finance. The seismic changes are casting uncertainty about the future of financial services. On one hand, fintech evangelists project a rosy future, asserting that the fast-moving algorithms can deliver low-cost financial services intuitively, customized to meet robust consumer expectations. On the other hand, many finance veterans fret that the traditional banking model could disintermediate, bleeding banks via a ‘death by a thousand cuts’, reducing them to passive portfolio holders with no direct customer relationship, eclipsed by digital giants which use their enormous treasure troves of customer data to offer banking as an added service with nearly free cost. Amidst the upbeat technological promises and apocalyptic forebodings, there are two constant, mostly agreed-upon, truths. The first is the vital importance of data. Advances in the internet, cloud computing, and record-keeping technologies are producing an ‘exponential growth in the volume and detail of data’. Some of this big data are personal information. Smartphones are deployed in almost all developed and emerging economies, serving as little spies; tracking, recording location histories, social networks, and app usage of their unsuspecting owners; often with a great degree of precision. ‘People are walking data-factories’ in this ‘mobile digital society’. Data are the fermentation of these global exchanges, electronic commerce and communication, and financial transactions. To just take Facebook as an example, it shares 30 million people a day through updates and posts, hosting personal information on 2.23 billion users. To the alarm of the uninformed public, much of this information is available for commercial harvest. The second constant is the rise of intelligent solutions. Consumers today—be it disclosed or not—are fed tailored clothes, music, film, holiday packages—almost anything you like, notably dynamic pricing, varying in accordance with individual profiles, or personalized search results. The availability of powerful computers has enabled comparable applications that are intended to make the system more responsive to their customer profiles and desires, or to capitalize competitive business possibilities. Such changes will transform the financial industry and occupy a prominent position among the mechanisms of policy competition, reshaping the way in which financial services are bestowed and led on the demand side.

Through a digitally connected ecosystem, the innovative realm of fintech significantly enhances human capabilities across various dimensions. AI-based fintech solutions are increasingly proving to be invaluable by providing effective enforcement of regulations that ensure compliance and protect stakeholders involved. Numerous expert investigations conducted in the arena of high-technology litigation have reinforced both the pressing need and the immense value of enforced compliance in today's fast-paced digital landscape. Open banking APIs have boldly pioneered this critical regulatory enforcement role, allowing broader access and improved services for consumers. Predictive AI certainty, facilitated through sophisticated validation systems, represented a fundamental evolution in their rule-based legal formulations that govern many aspects of financial transactions. These advanced products were deployed within global legislative codes, allowing for standardized practices, and consequently, all market sectors quickly adopted them to ensure they remain competitive and compliant. During the latest of these professionals' encouraging comments, it became clear that awareness of the inception of these groundbreaking innovations must be convened into a steadfast commitment to continue launching natural language processing products that can refine consumer interaction. Since this pivotal point, the increasing dependency of the financial expert community on these incisive factors underscores the paramount importance they now hold for their clients and end users alike, shaping the future of finance in profound ways [1].