Fintech in India: A Study on Digital Transfor...

Fintech in India: A Study on Digital Transformation of Financial Services.

Author Name : Uzma Khan , Govind Dewan

ABSTRACT In the current era of digitalization, the field of finance has not remained uncharted. With the continuous advancement of technology, finance has forged its own digital path, commonly referred to as fintech – a fusion of finance and technology. Fintech has revolutionized the way the world conducts financial transactions, investments, and the purchase of financial products. It presents alternatives to traditional banking and non-banking financial services, introducing a fresh perspective to the financial sector. Fintech paves the way for secure and convenient digital transactions, offering user-friendly experiences and cost-efficiency. As India embarks on its journey from digitization to full-scale digitalization, the nation has witnessed significant transformations. However, it's essential to assess the extent to which both the populace and the country itself have progressed in this regard. This research delves into India's evolving relationship with fintech. India is currently one of the fastest-growing fintech markets globally, and the introduction of fintech services is poised to bring about notable changes in the financial habits and behaviours of the Indian population. Fintech has brought about transformative changes in traditional financial institutions. The term "Fintech" encompasses the ever-expanding technological innovations within the financial sector. The influence of Fintech on the financial industry is growing rapidly, and this research paper aims to examine various aspects related to it. Specifically, this research paper investigates Fintech adoption, the emergence of the Fintech News Network, the structure of the Indian Fintech industry, the landscape of Fintech startups in India, and the prevailing Fintech trends in the Indian market.