• Siddhant Gurung

FinTech is the latest buzzword in the area of banking and financial services. Simply put, Financial Technology or FinTech is a term used to describe the growing technological innovations in the financial sector aimed at improving the activities in the sector. FinTech has emerged as a potential disrupter in the financial sector with products and services that has well managed to challenge the domination of traditional financial institutions. With the traditional financial institutions, especially in India, undergoing a period of turbulence, which has in the last few years witnessed the growth of bad loans, dissatisfaction among the customers regarding several financial products and services, and growing loss of confidence among the public with an imminent fear of a financial crisis, the opportunity seems ripe for the emerging FinTech to take centre stage. But, in spite of its rapid growth in recent years, FinTech is still a nascent player in the Indian financial sector. Hence, a collaboration with the ailing traditional financial institutions would help provide a new direction to India’s financial sector. This paper, thus, focuses on putting into perspective the role FinTech could play in helping the country’s banking industry regain its lost footing in a highly dynamic sector.

FinTech, traditional financial institutions, collaboration, turbulence

"FINTECH: A MESSIAH FOR THE AILING BANKING INDUSTRY IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 10, page no.159-164, October-2018, Available :http://www.jetir.org/papers/JETIRG006020.pdf

"FINTECH: A MESSIAH FOR THE AILING BANKING INDUSTRY IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 10, page no. pp159-164, October-2018, Available at : http://www.jetir.org/papers/JETIRG006020.pdf