A Review on the Role of Fintech in Financial Services Sector of India

Technology advancements in the area of financial services are oriented towards, delivering an enhanced user experience to the customers. This is one of the fundamental reasons for the evolution of financial technology. From the inception of such powerful field of study, its dynamics and growth are being tracked down all over the world. In India, financial sector is witnessing a faster digital transformation, particularly after the 2016 India banknote demonetization. As like any other businesses, Fintech players are also found to be opportunistic and are thoroughly assessing the underlying potential chances of wide growth in India. Various sub-techs and their role playing depicts that their rate of growth will be competitively more than the traditional ones in future. This work reviews and presents the recent trends of Indian economy, Financial services sector and the importance of Fintech.