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ZENITH International Journal of Multidisciplinary Research
Year : 2019, Volume : 9, Issue : 2
First page : ( 249) Last page : ( 264)
Online ISSN : 2231-5780.

Financial Technology (Fin-Tech): Opportunities and Challenges

Parambil Prasoon1, Dr. Simon T.C.2

1Phd Research Scholar, Reg No: Phd-Cb-Dec2013-0881, Bharathiar University, Coimbatore-641046, Tamilnadu, India. Email ID: psnclt@gmail.com/psn_clt@yahoo.co.in

2Associate Professor, M.A.M.O College, Mukkom-673602, Kerala, India., Email ID: drsimontc@gmail.com

Online published on 2 April, 2019.


Fintech, a portmanteau of ‘financial technology, ‘ is used describe new tech that seeks to improve and automate the delivery and use of financial services. At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. The present study is conducted to investigate the use of Fintech facilities the fast pace of change in fintech makes assessing the potential impact on banks and their business models challenging. An awareness level scale and an operation level scale are administered about simple transaction activities. It shows the importance of open innovation methods including accusation of assets partnership, alliances and accelerator in the Fin Tech space. It highlights the importance of new environment and investing technology. It exposes that while capital and customer base are the main advantages of incumbents, cutting-edge technologies and flexibility are main advantages of Fin Tech. It emphasizes the importance of “Banking as a Service”notion with respect to new regulations. Finding of the study are helpful for consumers and bank to improve their Fintech facilities and usage of Fintech.



Financial Technology, Risk and Opportunities, Electronic Banking, Consumer Satisfaction, Privacy, Recent trends.


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