India is a growing market for Fintech with a population of nearly 1.3 billion. A huge percentage of unbanked and under banked population is making India an exhilarating global space for financial technologies. Fintech is regarded as a game changer and disruptive innovation which is capable of shaking up the traditional financial markets. Fintech has been growing rapidly in India in the last five years and is expected to grow further in the nearest future. At this outset the article focuses on the basic types of financial technologies and their functions and also discusses the opportunities and challenges it has in the Indian business environment.
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Priya et al. (2019) studied this question.