The rapid evolution of financial technology (FinTech) has transformed the financial services sector across the globe, with India emerging as one of the fastest-growing FinTech ecosystems. This research paper examines the impact of FinTech innovations on consumer behaviour in India. It explores how digital payment systems, mobile banking, peer-to-peer lending, blockchain technology, and artificial intelligence have reshaped consumer financial habits, preferences, and decision-making processes. The study also highlights the role of government initiatives such as Digital India and Unified Payments Interface (UPI) in accelerating FinTech adoption. Further, it analyses the benefits, challenges, and risks associated with FinTech usage, including data privacy concerns and cybersecurity threats. The paper concludes that FinTech innovations have significantly enhanced financial inclusion, convenience, and efficiency while simultaneously introducing new behavioural patterns and risks among consumers.
Nikhil Ramesh Khandve (Tue,) studied this question.
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