Payments, Lending, Wealth Technology (WealthTech), Personal Finance Management, Insurance Technology (InsurTech),
Regulation Technology (RegTech), and other subsegments make up the Indian Fintech ecosystem.
Fintech has made it possible to combine physical and digital payment methods into a single interface that consolidates different bank accounts or cards. Businesses benefit from this capacity by having more convenient transaction methods and lower overall costs.
FinTech is producing value-added solutions and features that can be easily connected with bank platforms via application programme interfaces. It enables banks to focus their efforts on integrating and streamlining their operating capabilities.
The growing popularity of FinTech startups is transforming the banking industry. Global financial institutions have a significant challenge since they have failed to adapt to changes in technology, culture, operations, and other critical aspects of the industry.
A blockchain or distributed ledger is a decentralized database that exists in identical copies on devices all over the world, belonging to all the people who are part of that particular blockchain network.
Access to Payment Options, Security Concerns, Limited Access to Financing, Reaching the Unbanked, Limited Access to Investing, Virtual Assistants, Mobile Apps, Peer-to-Peer Payments.