As of 2023, the size of the global fintech markets was $324 billion and is anticipated to surge and exceed $1.5 trillion in the coming 2030, as suggested by the ResearchAndMarkets.com report. Such a growth rate clearly demonstrates that fintech is not a fad but a new model for a financial world. As pressure piles up on banks to deliver more value for clients and to reduce costs, digital transformation has been considered important. Currently, banking software has to be aligned towards implementing the new and efficient fintech platforms.