It is the duty of technology to revolutionize the way things work. It has been seen in every sector that old and traditional methods become obsolete and newer technology takes place. The trend continues in the financial sector also. Recent times have seen India adopt digital methods for funds transfer. Money order through post or .
The banking needs of the modern era have evolved to a great degree. While the change has been brought about by the non-banking factors that are so important that difference seems inevitable. Most of these are technological changes which the banks have to adapt to stay updated with the advancement in the entire industry. 1) .
There are several industries which eventually go stale with their innovation and eventually, shift focus entirely towards businesses and profits rather than the entire experience. More often than not, such industries are often dominated by a few very established companies, making it almost impossible for a start-up to make its way to the top. Such .
Traditional banking services finally seem to be catching up with the disruption, and look ahead to incorporate “fin-tech” in the way they function. Often regarded as the legacy industry with little room for innovation, the risk of obsolescence in this digital age, especially in India has forced them to change for good. Digital wallets, one .
Fin-tech has been on a steady rise and is causing a significant disruption in the services which once used to be a stronghold of the traditional banking behemoths. Owing to this, fin-tech has garnered much acceptance from the investors and even banking firms themselves seeking to tap into their potential. The immense success of the .
According to the recent reports, for the growth of the FinTech industry, the collaboration between FinTech startups and traditional financial institutions is necessary. In fact, 75% of FinTech companies believe that their major objective is to collaborate with traditional firms. Now, this makes it important for both FinTech and traditional firms to transform to let .
FinTech has been quite a buzzword in the Indian financial space for the last few years. Because of its vast potential to disrupt the current and traditional banking system, the FinTech space is now gaining traction in the areas of lending, asset management, deposits, and credit system. Not just that, the present-day FinTech companies are .
India, a country with over 1.3 Billion population, is moving towards a revolutionary Tech-Finance alliance. This collaboration between finance and technology is upgrading the way transactional operations are handled. Basically, FinTech is the amalgamation of technology in finance that offers more effective financial solutions than traditional institutions. Initially, FinTech started its trial by setting its .
Fintech is a financial technology which leverages technology to deliver superior financial services. By nature, Fintech is disruptive and has outperformed traditional banking and financial services sector. Fintech solutions include the development of applications, business models, products and processes for the financial services industry. Earlier Fintech solutions were limited to backend operations of few well-established .
Revolution as a word has been used to refer to significant changes occurring over a period bringing visible developments in a particular field. Talking about Fintech, the technology is revolutionizing the financial services domain and has become a catch-all term nowadays that everyone in the financial services business is using for the ground-breaking changes in .