Fin Tech – A game changer, risks and return

Abstract

Fin Tech revolution can be traced to the global financial crisis. In the
Indian context, the Fin Tech revolution has been primarily in the field
of payment systems and there has been a quantum increase in the last
decade. Regulators have taken a number of regulatory initiatives for
the development of Fin Tech landscape. The digital advancement is also
fraught with risks pertaining to mis-selling, data privacy and online
fraud. Therefore, in order to harness the potential of digital innovations,
it is important there is need for spreading awareness among regarding
risks associated with online/cyber transactions, there is also need for
bolstering up the digital infrastructure and also cost effective technology
to reach the under privileged sections of the society.