Abstract
Banking and Financial services landscape is characterized by a parallel growth of FinTech on the one hand and Iot, Big Data, block chain, Artificial Intelligence (AI) and Machine Learning on the other. While the first round of challenges involved adapting to phenomenal FinTech growth and strategizing either by creating FinTech capability in house or collaborating with the Fin Tech companies. The next round of challenges as they are coming up are to fuse the fourth generation technologies like IoT, block chain, AI and robotics into the FinTech architecture so as to generate a holistic package of services primarily to meet the fast changing demand pattern of millennial customers through solutions like mobile payments, budgeting, crowd funding, Robo Advising, Insurance, crypto currency, block chain, etc. The intricacy of the challenge involves introducing the latest technologies within the FinTech framework to make banking and financial services nimble, smooth and more customer centric than ever. What logically follows is meeting adequately the regulatory demands and defeating cyber-threats in the process. The instant paper attempts to analyze the impact of newer technological innovations within the financial services sector and the need to unlock the potential of FinTech that it may offer in the years to come.
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