The Potential and Growth of Fintech Market in India
In the first decade of the 21st Century, Fintech referred to computer technology applied to the back office of banks or trading companies. It was used as a portmanteau of financial technology for describing any emerging financial services sector. Now, the term has evolved to include any technological innovation in the financial sector, ranging from financial literacy and education, retail banking, investment to crypto-currencies like bitcoins.
In the current decade of the 21st Century, Fintech is being defined as a financial institution that makes use of technological innovation to perform multiple business tasks ranging from the creation of digital money to double-entry bookkeeping. With the internet revolution, followed by the mobile revolution, financial technology has grown massively a...