FINTECH

• Fintech is defined as the evolving intersection of technology and financial services.

• These are companies that are able to leverage new technology to create new, better
financial services for consumers and businesses.

• FINTECH can include all sorts of companies that may operate in insurance, payments,
asset management and personal finance management.

• New technologies, like machine learning/artificial intelligence, bitcoin , blockchain

technologies predictive behavioural analytics and data-driven marketing, will take the
guesswork and habit out of financial decisions. "Learning" apps will not only learn the
habits of users, often hidden to themselves, but will engage users in learning games to
make their automatic, unconscious spending and saving decisions better.
 Company Company name services provided
logo
1 Phone Pe mobile Payments by using just their
mobile number

2 Paytm Digital bank , payments

&remittances
3 Policy Bazar Insure tech

4 Razor Pay integrate Payments gateway

solution
5 Acko General Insurance Personal finance management ,
insure tech
6 Mobikwik mobile Payments network
HOW TO START A NEW FINTECH
There are four types of services offered by online finance businesses:
•Payment services: e-wallets and mobile payments.
•Peer to Peer (P2P) Lending services.
•Customer to Business (C2B) and Business to Customer (B2C) retail banking services.
•Personal Finance and Investment advisory services.

Step by step procedure

1.Decide the Business Structure
2. Register for GST
3. Get Legal Contracts and Agreement
4. Obtain Intellectual Property
5. Licensing
6. Register Domain
FINTECH’S V/S TRADITIONAL BANKS

One of the biggest threats of Fintech’s are security and privacy with the current internet security systems.

BENEFITS to customers by Fintech’s when compared to traditional banks.

1. Easy investments.
2. Investments guidance.
3. Time to time alerts.
4. Better capital rising.
5. Better wealth management.
6. Fast transfers and payments.
7. Peer to peer personal loans.

THREATS
1. As more number of service users go online data ubiquity and data security are challenging.
2. Data sharing should not be misused or exploited when financial institutions get into partnerships with
technology oriented contemporary businesses.
3. Further managing data ownership and customer access becomes very difficult between the two entities.