Page 180 - ICDEBI2018

International Journal of Trend in Scientific Research and Development (IJTSRD)
International Open Access Journal | www.ijtsrd.com

ISSN No: 2456 - 6470 | Conference Issue – ICDEBI-2018

INTERNATIONAL CONFERENCE ON DIGITAL ECONOMY AND

ITS IMPACT ON BUSINESS AND INDUSTRY

Organised By: V. P. Institute of Management Studies & Research, Sangli

Fin Tech Banking – The Revolutionized Digital Banking

Prof. Ashwini Sanmath
MBA (Finance), Ph.D. Scholar, Assistant Professor,
MIT COM, Pune, Maharashtra, India

ABSTRACT
India is one of the fastest developing countries in the world of India, and hence changing the scenario with
world and the changes taking place are also very respect to the traditional techniques of banking with
frequent in the financial environment of India. Where that of new implication of FINTECH into banking and
Fintech is and will play a major part of the financial enhancing the technique of the conduct of banking in
world. Fintech is the need of an hour, where it will be India and providing the services there of. In addition
completely digitalized in all respects. Today, to this, an attempt is also made to understand the
Comparing India with other countries with respect to significance of digital India after implementation of
its digital growth results in a drastic positive change. Fintech in financial world.
This change is helping the nation’s economy as well
as augmentation of the individuals. Digital India being Methodology
a flagship programme of the nation’s Prime Minister The paper is based on the secondary data and the
Shri. Narendra Modi under the incorporation of Indian information is retrieved from the internet via journals,
Central Government, Fintech plays and will play a research papers and expert opinions on the same
very vital role and impact on the programme fulfilling subject matter.
the needs and requirements of the time. This will also
empower the citizens which will lead to a better INTRODUCTION
standard of living. Fintech is the axiom within the world of digital
banking which refers to the use of technology across
The main focus of this research paper is on the all the financial services functions. It is the exchange
Fintech’s role in Indian Banking, financial services of paper-based processes. Is a term used to refer to
and financial gateways. Also providing an insight on "financial technology”. Fintech is entirely a new
future banking in collaboration with Fintech. perception for almost all consumers and does not have
a specific definition. The term is used to refer to the
technological revolutions that relate to the concepts
such as financial literacy and education, stock
investment, cyber security, blockchain technology,
retail banking, crypto-currencies like Bitcoin and
Ripple, among other innovations.

One more vital concept of Financial inclusion also
refers to Fintech solutions which provides more
reasonable finance substitutions to deprived and low-
Objective: income people who, like the unbanked/under banked,
The objective of this research paper is to explain the may or may not have little or no reach to mainstream
changes taking place due to implementation and financial services. India is one of the most developing
execution Fintech program in the entire Financial nation among the world where Fintech is adopted to

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