Analyzing the Global Fintech Ecosystems and it’s Opportunities and Challenges

Abstract

The worldwide ecosystem of financial technology (fintech) has seen remarkable expansion and transformation, which has resulted in the reconfiguration of conventional financial services and the creation of new opportunities. The purpose of this paper is to give a detailed analysis of the present condition of the global fintech environment, focusing on the main opportunities and challenges that characterize the dynamics of this ecosystem. Both the development of the fintech business and the current state of financial technology in the Indian finance sector are discussed in this article. The fintech industry offers digitization of transactions, which helps to make them safer for users. One of the advantages of using fintech services is that they lower operational expenses and are user-friendly. India is the country with the fastest expanding fintech services in the world. Fintech services are going to bring about a shift in the routines and strategies that are utilized by the Indian financial industry.