Abstract
If a need or demand arises, new creation takes place…. Technology is the one of those. In today’s context every part of society is influenced by the technology. The first and foremost base of a country’s economy, that is financial sector, is not remained untouched worldwide with technology. Finance with technology together revolutionized the present scenario of world economy. In this voyage, the banking sector is passing through a new route where a new milestone called Fintech is putting ahead a path full of prickles. There are some threats to the financial service industry in the upcoming future because of this fintech exposure and hence, it must be the area to look upon. In this paper, Fintech’s effect on traditional banking is analyzed with special reference to lending activities of both. The kind of threat, the fintech services are imposing on traditional players is a prominent area of research in finance and this must be well taken care of. The kinds of opportunities opening for the financial services to tap those into the unbanked area are also opening the roads ahead for financial inclusion. With these objectives in mind, threats and opportunities for the banking sector and financial inclusion are analyzed. Some suggestions are made for the traditional players to consider improvising themselves and the impact of the same on financial inclusion is also touched upon.
Published Version
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