Information technology has a significant impact on the transformation of the financial sector. One of the reasons for this is the emergence of digital technologies and the emergence of new business models. However, research that truly deals with digitally enabled finance transformation is very rare. Based on the digital transformation process, the research focus of this study is the financial services sector. Previous studies addressing individual units or sectors were synthesized to draw conclusions about the financial services industry. Among the results, it can be seen that digital technologies enable new business models and that disintermediation and customer focus are becoming increasingly important for financial service providers. Additionally, the interaction between users and technology appears to be changing. The rapid digital transformation in the financial sector causes the number of branches and employees to decrease. On the other hand, it is seen that the number of branches and employees in areas parallel to digital transformation has increased. The digitalization process in the financial sector is shifting from operational activities to digital activities. Digitalization of an instrument means reducing the cost of information, transaction, and time. In addition, in order to use instruments in the financial sector more effectively, different software and applications should be developed to reach users. The process should be discussed in more detail with empirical studies.