Fintech Revolution: A Technological Way to Fu...

Fintech Revolution: A Technological Way to Future of Banking or Financial Services

Author Name : Dr. Satabdi Roy Choudhury

Background of the Study

The world we live in today is evolving. Over the years technology has revolutionized our view of the world. We are experiencing a massive change because technology is gradually changing our lives. Also, we must accept, that modern technology has made it possible for the discovery of many functional and utility devices.

In this scenario, the banking sector is no more an alien. The Banking sector is responsible for handling cash, credit, and other financial transaction. Banks are generally seen as the secure place to store and hoard credit and cash, irrelevant of whether they are in excess. Banks over various offers accounts, certificates of deposits, and other forms of a sign as proof of storage. Today, technology has enabled banks towards the development of better market infrastructure, sophisticated service to customers, continuous product and process innovation, and ultimately a paradigm shift from seller’s market to buyer’s market

Purpose of the Study

The present paper examines various facts related to the banking industry and its changing scenario. The paper also depicts the development pace of the banking sector. The paper also tries to analyze certain factors responsible for the growing trend of fintech technology and its innovative approaches of customer-orientated practices and proving to be the intersection of financial services and evolving technology.