"The Impact of FinTech Apps on Millennial Investment Decisions in Amravati City"
Puja V. Kapse1, Prof. Swati S. Gupta2
Author 1 - PG Student, Department of Business Administration, SIPNA COET, Amravati, Maharashtra1
Author 2 - Assistant Professor, Department of Business Administration, SIPAN COET, Amravati, Maharashtra2
Abstract
The rapid advancement of financial technology (FinTech) has significantly reshaped the financial services sector in India, especially in the post-demonetisation period. This study examines the scope, impact, and emerging opportunities of FinTech innovations, with particular emphasis on digital financial services and their adoption among consumers. Primary data were collected from a sample of 50 respondents using a structured questionnaire to assess awareness levels, usage patterns, perceived benefits, and challenges associated with FinTech applications. The study empirically tests the relationship between digital literacy and FinTech adoption using appropriate statistical tools such as the Chi-square test and t-test. The findings indicate that FinTech platforms have enhanced accessibility, transaction efficiency, and financial inclusion, particularly among younger users who increasingly rely on user-friendly investment and payment applications. However, issues related to digital infrastructure, regulatory clarity, and cybersecurity continue to pose significant challenges. The study rejects the null hypothesis, confirming a significant association between digital literacy and FinTech adoption. The paper concludes with recommendations aimed at strengthening regulatory mechanisms, increasing digital awareness, and encouraging innovation to support the sustainable growth of the FinTech ecosystem in India. The study is limited by its small sample size and regional focus, suggesting scope for future research through larger, comparative, and cross-regional studies.
Keywords; FinTech, Digital Financial Services, Demonetisation, Financial Inclusion, India, Blockchain, Mobile Payments
