Innovations in fin-tech is changing financial landscape

The emerging financial technologies continue to impact how companies do business and how people handle digital transactions. Since the turn of the century, innovation in technology has played a progressively substantial role in our daily lives. From Smartphones to home assistants to AI chat-bots, people are now relying on tech more than ever to simplify or improve productivity and quality of life! The COVID pandemic has only accelerated this trend, with increasing tech adoption across industries and sectors, making it more mainstream. This is also increasingly true for Banking and Finance.

Technology started playing a more critical role in the financial sector. As such, 57% of consumers now prefer to use online banking tools to manage their finances, to compare, this figure sat at 49% pre-COVID 19, as per market research. The personal finance sector has certainly been no exception. Consumers have already become increasingly dependable on tech to research, invest, and manage their investments, even more so over the past six months. The rise of financial technology has modernised many processes for both service providers and the consumers. To be more precise, fin-tech has made the vast, complicated world of personal finances far more accessible to the average consumers.

The technology boom in developed and developing countries has slowly moved from Internet banking to mobile banking and is now taking a new direction toward digital banking. The RBI governor sees four landscapes emerging in the banking sector in the current decade, including the growth of digital players who will increasingly emerge as critical pieces across all segments.

Labels & Copyrights :- VARINDIA


Follow Us On :-

https://www.facebook.com/VARINDIAMaga...​

https://twitter.com/varindiamag​​​

https://www.instagram.com/varindia/​​​

https://www.linkedin.co.