Fintech, or financial technology, refers to the integration of technology into financial services offerings in order to improve their use and delivery to customers. It is a growing industry that employs technology to improve financial activities. The phrase refers to a fast expanding industry that serves both consumers and businesses in a variety of ways. Fintech offers a seemingly limitless number of uses, ranging from mobile banking and insurance to cryptocurrency and investment applications.
While the COVID-19 pandemic and lockdown pushed fintech services into the mainstream, there are a number of other factors that are influencing the fintech industry’s future like global adoption of fintech services, awareness of fintech, focus on new technology and many more. These factors will have a significant impact on how banking will evolve in the future. Fintechs are at the frontline of this new financial order all over the world. The Indian fintech industry has emerged as a major player. As the fintech industry undergoes a major transformation, Here is a list of five significant trends that will likely define the future of the fintech industry’s future.
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