In recent times, the modern industry of financial technologies has undergone significant changes, various processes have taken place in it, which have significantly changed it and made this industry more client-oriented. Decentralized finance (DeFi) has become one of the key sectors that have undergone positive changes. DeFi refers to a field that actively uses blockchain technology to accurately replicate and maximize traditional financial systems, allowing for peer-to-peer transactions without any intermediaries such as banks or brokers. Companies offering financial & banking software development services are increasingly in demand as the industry seeks innovative solutions to improve efficiency and customer experience. This article examines the process of change in the DeFi sector, its key components, undeniable benefits and challenges, and its future potential in the broader financial environment.
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