1. Introduction

The introduction to the book “The Impact of Digital Transformation and FinTech on the Finance Professional” explains the book’s motivation and scopes out its subject: What is the hype of digitalization and what is fundamental change? It initially describes the current situation in the financial services sector. Fintech companies and the big technology companies (GAFA) are new competitors in this sector. Value is derived from data by analyzing and projecting patterns for a better understanding of customers and higher automation of standard processes through to automated decision-making. The impact on the finance professional is subsequently assessed by analyzing the revenue and cost reduction aspects of digitalization.