FINTECH AND ITS IMPACT ON VARIOUS SECTORS -AN OVERVIEW

The global revolution in financial technologies (FinTech) is in full swing. The purpose of the current article is to provide an overview of fintech, and the significance of it, and how it has altered the landscape of conventional financial institutions. With the help of secondary data, the effects of fintech on the banking, insurance, and payment sectors have been discussed. One of the worlds Fintech markets with the quickest growth rates is India. The market for Indian fintech is expected to be worth $50 billion in 2021 and $150 billion by 2025. The total addressable market for the Indian fintech sector is projected to be $ 1.3 trillion by 2025, with assets under management and revenue reaching $ 1 trillion and $ 200 billion, respectively, by 2030.