FinTech and Digital Finance: Foes or Friends after COVID-19 Pandemic?

Purpose- In the recent years, there is a high decline in the financial intermediation cost all thanks to the increased competition and technological advancement. The aim of this research is to find the awareness level and frequency of using FinTech during and after COVID-19. We also study FinTech in the terms of geographical profile of respondents. Design/methodology/approach- The data used in this research are both Primary and Secondary. Primary data was gathered from 143 respondents through online structured questionnaire. The survey was conducted in the State Haryana. The study is descriptive and exploratory in nature. Findings- The findings of the paper revealed that the frequency and the use of Digital financial services and FinTech increased after the pandemic. The needs of the people increase its demand. Further, the geographic profile of respondents has no influence on the use of FinTech but gender and annual income have significant influence on the frequency of using DFS on monthly basis. Practical implications- Based on the findings, the awareness level and frequency of using FinTech has been revealed. Suggestions and Recommendations have also been passed on how FinTech helps in accelerating financial inclusion and how the use of FinTech can be increased in the rural areas. Originality/value- The use of FinTech is increasing day by day, there is a need to analyse the use of FinTech amongst the section of population, especially those who are living in rural areas. This research also examines the role of FinTech in accelerating financial Inclusion. The motive of financial inclusion is also to provide financial services to each and every section of society including rural areas. Index Terms- FinTech, Digital Financial Services, Digital payments, Financial Inclusion, COVID-19, Digital Finance Paper type- Research paper.