The Impact of the Financial Technology and the Governance of Public Utilities: Opportunities and Challenges

Abstract

This study aims to examine the impact of financial technology (FinTech) on the governance of public utilities. The research employed a descriptive-analytical approach and concluded that the use of FinTech has positive effects on public utility governance, such as achieving financial inclusion, diversifying economic activity, and combating governmental corruption. However, negative effects were also identified, including risks related to non-compliance with consumer protection and data protection regulations. The study recommends the integration of sustainability approaches into soft technologies, engaging decision-makers, government sectors, and stakeholders in the adoption of FinTech in service utilities, and aligning these practices with the United Nations Sustainable Development Goals (SDGs) 2030.