FinTech Past and Future:Ecosystem, Business Model and its Proximate Challenges

FinTech “financial” and “technology” is redefining financial services in the 21st century.  It is an advancing intersection of financial services with a technological solution to enhance automated financial services and processes. FinTech is a groundbreaking innovation that has the capability of restructuring the traditional market. It establishes a standard in which information technology drives financial industry innovation.  These approaches are advancing expeditiously, embedded by enhancing the economy, policies, and IT sector. It offers facilities including e-trading, funding payment (electronic wallets), e-insurance, e-aggregators, and cryptocurrency via Bitcoin. The main intention of this research is to discover a historical perspective of FinTech to highlight the existing gaps in the literature, and also describe the significance of the Ecosystem toward fintech. The novelty of this area of study is to explore multiple dimensions of FinTech business models, which must be helpful for future business consultants and advisors. Similarly, after evaluating previous research to understand the ground realities and comprehend future directions, technical and management problems of FinTech companies along with future challenges