BLOCKCHAIN TECHNOLOGY: THE NEW AVATAR IN THE WORLD OF BANKING AND FINANCE

Financial technology often abbreviated as fintech relates to the adaption of technological advancement and innovation in the delivery of financial services. AI's application is seldom restricted to a few domains and is slowly capturing every process under its gamut. It is firmly implanted and entwined inthe personal lives of individuals by encompassing the functions of customer relationship and service, finance management, sales and marketing as well as administrative and technical domains. AI and blockchain are the two major disruptive technologies which dominate the world of business in this millennia. The real challenge of fintech adoption is the ecosystem required for its implementation and use. The conceptual paper is an attempt to explore the existing data with respect to the present scenario, the future prospects, the roadblocks and the path ahead for blockchain in banking and financial services