FINTECH STARTUPS IN INDIA & A COMPETITIVE MARKET STUDY

The increased dependency on technology of every service has led to various significant socio-economic alters. Accessibility of financial assistance and services have become convenient and easier. Financial Technology (Fin-tech) aims to deliver uninterrupted and personalized assistance competing with traditional means of monetary services. These digital innovations are responsible for new business models, creation of employment, reduction in transaction costs and many more. The research paper discusses coherent mechanisms and schemes implemented along with the growth of fintech giants in the Indian market. Acquisition of newer potential prospects with introduction of newer financial models governed by a set of rules has been a major goal. However, advancement in technology has created newer challenges. Stability and integrity, Privacy of data, efficiency, competition, accordance with financial authorities and a lot of other factors are still the area of concern. The research also puts light upon working of various types of Fintech and includes detailed analysis of some popular firms that exist in the market.