• Dr. Vidya Nakhate

A digital alteration is taking place in the financial services industry, with a group of non-bank innovators offering both customer facing and back office fiscal technology products and services. Technology adoption is intensely altering the way we live and work on a daily basis. The nature, pace and impact of this technology adoption at the everyday level is often ignored. The Technological transformation in Financial services include emerging market economies, offers a feasible digital substitute to traditional banks, which have left significant populations underbanked. New practices indicate that structure on various public and self-governing initiatives provides a unique opportunity to move away from cash to inclusive cash-lite creativities, particularly in rural areas. Researcher offer suggestions on building this digital ecosystem based on the present economic organisation of rural life. This research paper explores the challenges and opportunities that financial technology innovations present for banks in these nations. This paper also suggests that despite of challenges, the nature of present day rural society offers huge potential for the formation of a digital ecosystem, which may not be as difficult as supposed.

Digital Ecosystem, Financial inclusion, cash-lite creativities, e-banking, Digital India.

"DIGITAL ECOSYSTEM: PROS AND CONS FOR FINANCIAL SERVICES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 5, page no.344-349, May-2018, Available :http://www.jetir.org/papers/JETIR18IC066.pdf

"DIGITAL ECOSYSTEM: PROS AND CONS FOR FINANCIAL SERVICES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 5, page no. pp344-349, May-2018, Available at : http://www.jetir.org/papers/JETIR18IC066.pdf