The paper "Navigating the Neo-Financial Frontier: Rise of Fintech and its Risks and Opportunities in India's Banking Evolution" explores the significant impact of Fintech on India's banking sector. Driven by technological advancements, regulatory reforms, and changing consumer preferences, Fintech is revolutionizing financial services in India. Key innovations include mobile banking, digital lending, and blockchain technology, which enhance accessibility and operational efficiency.Government initiatives like Digital India and the Reserve Bank of India's push for a cashless economy have further supported this growth. However, rapid Fintech expansion also brings risks such as cybersecurity threats, data privacy concerns, and financial fraud. Robust regulatory frameworks are essential to address these issues and ensure consumer protection and financial stability.The study employs the Technology Acceptance Model (TAM) to understand consumer adoption of Fintech and Porter's Five Forces model to assess competitive dynamics in the sector. These analyses provide insights into strategic priorities and market attractiveness.Fintech has the potential to drive financial inclusion by offering affordable services to underserved populations, but challenges like algorithmic bias and the digital divide must be addressed. Policymakers, regulators, and industry stakeholders need to collaborate to foster an inclusive, resilient, and sustainable banking ecosystem in India, leveraging Fintech's transformative power.
Fintech in India, Digital Banking Transformation, Financial Inclusion, Regulatory Frameworks, Cybersecurity and Data Privacy, Economic Development, Financial Technology Risks, Banking Innovation
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