Paper Details

Fintech is a combination of two words “Financial Technology” which aims in competing with traditional methods of finance. Fintech refers to any business which uses technology to create automate financial services. The services provided by Fintech companies are by integrating software and modern technology, like Loans, mobile payments, online money transfers, manage investments and many other things without going to bank all the time. Fintech provide the services in multiple ways to the interest of both consumers and business. Rapid growth changes the business economy in digital technology are converting traditional services into modern. Financial technology is creating new openings and challenges to the financial sector. The Modern technology in providing financial services also helps in reducing the operational costs. Fintech services are going to change the habits and actions of the Indian finance sector. Fintech is providing endless services from mobile banking and insurance to crypto currency and Block chain which are considered as biggest pillars of this industry. There are digital lending and credit apps like peer to peer lending, it is a very popular growing part of this industry, and it refers to everything from cashless payments to crowdfunding platforms, Robo-advisors, virtual currencies.

Fintech, Financial services, Traditional methods, Technology, Economic growth