Authors: Harleen kour, Associate Professor Dr. Navneet Seth
Abstract: This research paper studies the role of FinTech in the financial sector and its impact on the future of finance. The study focuses on the development of FinTech, its major applications, benefits and challenges. Financial Technology, commonly referred to as FinTech, represents the integration of technology with financial services to improve the way financial activities are delivered, managed and accessed. The rapid development of digital technologies has transformed traditional financial systems from branch-based and manually operated services into increasingly digital, automated and data-driven financial ecosystems.This research examines the role of FinTech in finance with particular emphasis on digital payments, digital banking, online lending, artificial intelligence, blockchain, financial inclusion and data-driven financial services.The study identifies that FinTech has become an important component of modern finance, while challenges related to cybersecurity, data privacy, digital fraud, regulatory compliance, technological dependence and digital literacy remain significant. The research further discusses the future potential of artificial intelligence, blockchain, open banking, embedded finance and other emerging technologies.The study concludes that FinTech is not simply replacing traditional finance; rather, it is contributing to the development of a more digital, accessible, efficient and technology-driven financial ecosystem.
