Digital Diversification and the Use of New Age Technologies on FinTech Firms

Abstract

FinTech firms and innovative financial service providers are delivering a wide range of new financial products, financial businesses, financial software, and novel forms of customer communication and interaction. As a result, a study on new business models and technological applications can aid in examining changes and the effects of technological advancement on the financial industry. The study aims to review the current state of the Indian financial technology market and addresses the technological changes with its application in different FinTech segment. It also provides an outlook on potential future trend in the FinTech market in India. Therefore, this chapter offers a coherent research theme formulated through systematic literature review and industrial report data. The study found that financial service innovation needs to be understood under the convergence of new age technology. Additionally, account aggregator, embedded services, and neo banks are the trends coming up in the Indian FinTech market.