Over the past two decades, the world has witnessed tremendous technological advancements that have impacted various aspects of life, with the financial sector receiving a significant share of this development through what is known as Financial Technology It is a set of digital innovations that aim to improve and facilitate financial services, making them faster, safer, and less expensive. Financial technology has changed the way individuals and institutions deal with money and opened new horizons for financial inclusion and economic development. Financial technology concept Financial technology is defined as the use of modern technologies such as (the Internet, smartphones, artificial intelligence) to provide innovative financial services including (electronic payment, transfers, lending, investment, and insurance). These technologies aim to reduce reliance on traditional methods that are slow and complex. Financial technology fields 1- Digital payments: Such as electronic wallets, payment cards and instant transfer applications that have facilitated purchase and payment processes without the need for cash. 2- Electronic financing and lending: Platforms that grant loans to individuals and small businesses based on a digital risk assessment instead of lengthy paperwork procedures. 3- Mobile Banking Customers can manage their accounts, pay bills, and transfer money through mobile applications without visiting a bank. 4- Digital currencies and block chain: These are technologies that provide a transparent and secure financial record that is difficult to tamper with. 5- Technological insurance: Using artificial intelligence to analyze risks and price insurance policies more accurately. The importance of financial technology • Promoting financial inclusion: Providing services to individuals without bank accounts in remote areas. • Reducing costs and time: Completing transactions in seconds instead of days. • Increased transparency and oversight: thanks to digital documentation and traceability. • Support for small businesses: through the provision of alternative funding sources. • Stimulating innovation and competition among financial institutions. The challenges it faces Despite its significant benefits, financial technology faces several challenges, the most important of which are: • Cybersecurity and data protection risks. • Weak digital infrastructure in some countries. • The need for legislation and regulations to govern digital financial transactions. • Low levels of financial and technological awareness among certain segments of society. The reality of financial technology in Iraq Iraq has begun to witness a gradual spread of electronic payment services and digital wallets, especially after the government's move to localize salaries and deploy point-of-sale devices. However, the success of the experiment requires strengthening confidence in the banking system, developing the internet infrastructure, and spreading financial literacy among citizens. Therefore, financial technology has become an essential element in the modern economy and is no longer a secondary option for financial institutions. It represents a new future for banking services based on speed, innovation and inclusiveness. It is necessary for efforts to be integrated between governments, banks and universities to adopt these technologies in a safe way that achieves sustainable economic development.