Fintech: Emerging Trends

MAHEK KOTHARI

121322205003

RESEARCH PROJECT SUPERVISOR:

Ms. Nida Suleman

ACADEMIC YEAR
2022 - 2023
 DECLARATION

I, Mahek Kothari, Roll Number 121322205003 a student of Post Graduate Diploma of Fintech,
St. Francis College for Women, Begumpet, hereby declare that the Project Work titled ‘Fintech:
Emerging Trends’ is my own work and has been done by me under the supervision of Ms. Nida
Suleman, Asst. Professor, Dept. of Commerce, St. Francis College for Women, Hyderabad.

I hereby declare that this is my own work and the results embodied in this work have not been
submitted to any other Institution or University for an award of Degree or diploma.

Date:

Place: Hyderabad

Mahek Kothari
121322205003
Post Graduate Diploma of Fintech
Dept. of Commerce
St. Francis College for Women,
Begumpet, Hyderabad
 Acknowledgement

The accomplishment of this project has been an enriching and learning experience. I
would like to take this opportunity to express my thanks to all those who have made it
possible for me to Complete this project

I am Extremely grateful to the principal, Sr. Sandra Hotra, and the Department of
Commerce for giving me the opportunity to work on such an interesting project which
has given me a chance to put into practice the knowledge I have gained during the year
of my college. It has been an excellent learning experience for me and has immensely
helped increase my knowledge and confidence.

I would like to Express my gratitude to Ms. Nida Suleman, my project mentor, for giving me
the opportunity to research on such an interesting topic and her guidance and encouragement
throughout the research project. Her valuable suggestions have helped me accomplish my
project successfully.

Date:

Place: Hyderabad

Mahek Kothari

121322205003

Post Graduate Diploma of Fintech

Dept. of Commerce

St. Francis College for Women,

Begumpet, Hyderabad
 Table Of Contents

CHAPTER NO. PARTICULARS PAGE NO.

I Introduction

1.1 Introduction

1.2 Significance of the study

1.3 Objective of the study

1.4 Research Methodology

1.5 Scope of the study

1.6 Limitations of the study

1.7 Chapterisation

II Review of Literature

2.1 Theoretical Background

2.2 Citation of Past Work

III Data Analysis And Interpretation

IV Findings, Conclusion and Suggestions

Bibliography And Webliography

Annexure
 List Of Tables
S.No. PARTICULARS PAGE
NO.

3.1 Age of the Respondents

3.2 Gender of the Respondents

3.3 Highest Education Attained by the Respondents

3.4
Employment Status of the Respondents

3.5 Family Income (p.a.) of the Respondents

3.6 Percentage of the Respondents aware of Fintech

3.7 Percentage of the Respondents Familiar with the Fintech

3.8 Fintech Applications used by the Respondents

3.9 Frequency of Fintech Applications used by Respondents

3.10 Satisfaction level of respondent to Adopting fintech

offers several benefits

3.11 Satisfaction level of respondent to on its ease to learn

3.12 Satisfaction level of respondent to its ease understand on

how Fintech App works

3.13 Satisfaction level of respondent to its interest in new

FinTech products & services
3.14 Satisfaction level of respondent to its Using Fintech is
associated with a certain level of risk

3.15 Satisfaction level of respondent to its still worry about new

technologies

3.16 Satisfaction level of respondent to tend to

continue using existing products and services

3.17 Satisfaction level of respondent to willing to learn more

about it

3.18 Percentage of Respondents aware of the Fintech Trends

3.19
Correlation between the different levels of awareness for
each fintech trend

3.20 Fintech trends respondents think are the most and least
promising

3.21 Fintech trends will impact the future of finance

3.22 Fintech trends will impact the respondents personally

3.23 Respondents who believe in following impacts of Fintech

Emerging Trends

3.24 Fintech trends become more mainstream in the future

3.25 Other Fintech Trends that are Important

3.26 Additional comments by the respondents about Fintech

 List Of Figures

S.No. PARTICULARS PAGE

NO.
3.1 Age of the Respondents

3.2 Gender of the Respondents

3.3 Highest Education Attained by the Respondents

3.4
Employment Status of the Respondents

3.5 Family Income (p.a.) of the Respondents

3.6 Percentage of the Respondents aware of Fintech

3.7 Percentage of the Respondents Familiar with the Fintech

Applications

3.8 Fintech Applications used by the Respondents

3.9 Frequency of Fintech Applications used by Respondents

3.10 Satisfaction level of respondent to Adopting fintech offers

several benefits

3.11 Satisfaction level of respondent to on its ease to learn

3.12 Satisfaction level of respondent to its ease understand on how

Fintech App works
3.13 Satisfaction level of respondent to its interest in new FinTech
products & services

3.14 Satisfaction level of respondent to its Using Fintech is

associated with a certain level of risk

3.15 Satisfaction level of respondent to its still worry about new

technologies

3.16 Satisfaction level of respondent to tend to continue

using existing products and services

3.17 Satisfaction level of respondent to willing to learn more about

it

3.18 Percentage of Respondents aware of the Fintech Trends

3.19
Correlation between the different levels of awareness for each
fintech trend

3.20
Correlation between the different levels of awareness for each
fintech trend

3.21 Fintech trends respondents think are the most promising

3.22 Fintech trends respondents think are the least promising

3.23 Correlation between the Fintech Trends in most and least

promising

3.24 Fintech trends will impact the future of finance

3.25 Fintech trends will impact the respondents personally

3.26 Respondents who believe in following impacts of Fintech

Emerging Trends

3.27 Fintech trends become more mainstream in the future

 CHAPTER 1

INTRODUCTION
1.1 INTRODUCTION:

Financial technology, or fintech, is the term used to describe the use of technology and
innovation to deliver financial goods and services. It includes a broad variety of applications
with the goal of enhancing accessibility, ease, and efficiency in the financial sector. Traditional
financial services are being transformed by fintech businesses using innovations in fields like
artificial intelligence, blockchain, data analytics, mobile technology, and cloud computing.
Fintech's development has upended the conventional banking and financial industries, upset
long-standing organizations and bringing new competitors to the market. Financial factors such
as banking, payments, lending, investing, insurance, and regulatory compliance are all addressed
by fintech solutions. The way people and companies manage their finances, conduct transactions,
and access financial services is changing as a result of these technologies.

Fintech has created robo-advisory services, which automate investing advice and portfolio
management using algorithms and AI. Individuals may now access investing services with
greater openness and at reduced cost. Fintech does, however, come with certain drawbacks and
things to think about in addition to its advantages. To safeguard consumers and preserve faith in
the financial system, security and privacy issues, regulatory compliance, and possible hazards
related to new technology and business models must be addressed. Fintech, which uses
technology to offer creative and client-focused financial solutions, is generally seen as a
fundamental shift in the financial sector. Its influence is expanding, influencing the direction of
finance and altering how people, organisations, and institutions interact with financial services.

One of the most active areas of the Indian economy, the fintech sector has grown significantly
over the past few years. Several reasons, such as the sizable unbanked population, government
initiatives, rising smartphone penetration, and favourable regulatory regulations, have
contributed to the development of India's fintech ecosystem. The following are some significant
features of the Indian fintech market:

1. Digital payments: Fintech businesses have led a revolution in digital payments in India.
The National Payments Corporation of India (NPCI) introduced the Unified Payments
Interface (UPI), which has been instrumental in enabling quick and easy financial
 transfers across bank accounts. People now often use mobile payment applications like
Paytm, PhonePe, Google Pay, and others to send money, make payments, and even
conduct merchant transactions online.

2. Online lending: In India, fintech platforms have upended the country's established loan
market. These platforms make use of data analytics and technology to quickly and easily
give loans to both people and small enterprises while evaluating creditworthiness.
Platforms for peer-to-peer lending, including Fair cent and Lending kart, have gained
popularity as alternatives to traditional lenders, fostering financial inclusion and
enhancing credit availability.

3. Insurance Technology (Insurtech): Insurtech is revolutionising the insurance industry

in India. Digital channels, data analytics, and artificial intelligence are being used by
fintech businesses to speed up the insurance process, provide specialised insurance
products, and improve the entire client experience. Comparing and buying insurance
plans has become easier thanks to websites like Policy bazaar and Cover fox that
aggregate insurance products online.

4. Wealth Management and Investment: A larger variety of investors in India now have
easier access to wealth management and investment. Robo-advisory systems like
Groww, Scripbox, and Kuvera offer automated portfolio management and investing
advice. These platforms provide personalised investing plans using AI and algorithms,
making it simple for users to buy mutual funds and other financial instruments.

5. Regulatory Setting: India's regulatory setting has aided the development of the fintech
industry. To promote digital payments, the Reserve Bank of India (RBI) has put in place
several rules, such as licencing non-banking payment system providers and fostering
interoperability across various payment systems. Regulations have also been made by the
 Securities and Exchange Board of India (SEBI) to support investor protection and
crowdfunding in the Internet investing environment.

The growing use of digital technology, government programmes like the Digital India campaign,
and the expanding need for accessible and inclusive financial services are all driving the future
expansion of the fintech sector in India. But issues still require addressing, including data
privacy, cybersecurity, and regulatory compliance. Collaborations between fintech
companies established financial institutions, and regulators will be essential as the sector
develops if we are to fully realise the benefits of fintech and maintain a safe and secure
ecosystem.

The future of Fintech in India is bright, and the industry is expected to continue growing at a
rapid pace. As more Indians adopt digital payment solutions, the demand for Fintech services is
expected to increase. The rise of neo-banks and the increasing adoption of AI and Blockchain are
also expected to shape the future of Fintech in India.

1.2 Significance of the Study

The Indian Fintech industry is constantly evolving, and there are several trends that are shaping
its growth. One of the most significant trends is the increasing adoption of digital payments. As
more and more Indians become comfortable with making cashless transactions, the demand for
digital payment solutions is expected to grow.

Moreover, this study will help us understand about the awareness and the growth of then
Emerging Trends in Fintech. It is to also understand the role Fintech is playing in the economy
and its in Impact in Economy, Finance and one’s personal life.

1.3 Objectives of the Study

1. To identify and analyse the most important emerging trends in fintech.
2. To assess the impact of these trends on the financial industry and on consumers.
 3. To explore the potential opportunities and challenges posed by these trends.

1.4 Research Methodology

This study is based on both primary and secondary data.

 Primary Data is in a form of a questionnaire to investigate about user’s perceptions,

awareness, interest and Growth about the Fintech Services.
 Secondary Data is taken from various websites on the internet.
 We have used Power BI and Excel for tools to analyse the data recorded.

1.5 Scope of the Study

The Scope of this Study is to evaluate FinTech emerging trends and the examination of the
prospects for the emerging trends and the Future of FinTech.

1.6 Limitation of the Study

1. The samples are limited to the city of Hyderabad

2. One may not give honest responses to the questionnaire.
3. Besides, the study has the limitation of age, time, place and resources.

1.7 Chapterisation

Chapter 1- Introduction

Chapter 2- Literature Review

Chapter 3- Analysis and interpretation

Chapter 4- Findings, suggestions and conclusions

 CHAPTER 2

REVIEW OF LITERATURE
2.1 Theoretical Background

The finance industry is constantly evolving, and there are several emerging trends that are
shaping its future. Here are some of the key trends and developments in finance:

1. Open banking: With the implementation of open banking regulations in various

countries, fintech firms are able to access customer data from traditional financial
institutions securely. This allows for the development of innovative products and services
that can improve financial management for consumers.

2. Blockchain technology: Fintech companies are exploring the use of blockchain

technology for secure transactions, smart contracts, and identity verification. This
decentralized system offers increased transparency and reduces the need for
intermediaries in financial transactions.

3. Mobile payments: The rise of smartphones has led to a significant increase in mobile
payment solutions offered by fintech firms. These solutions enable users to make fast and
convenient payments using their mobile devices without cash or physical cards.

4. Robo-advisors: Fintech companies have developed robo -advisory platforms that use
algorithms to provide automated investment advice based on an individual's risk
tolerance and goals. This provides cost-effective investment options for retail investors.

5. Peer-to-peer lending: Also known as marketplace lending, peer-to-peer lending

platforms connect borrowers directly with lenders through an online platform, bypassing
traditional banks as intermediaries. This enables individuals or small businesses to access
loans at competitive rates.

6. Insurtech: Fintech firms are disrupting the insurance industry by offering innovative
products such as usage-based insurance (UBI), on-demand coverage, and automated
claims processing using digital technologies like telematics devices or loT sensors.
7. Regtech: Regulatory technology is helping fintech companies comply with regulatory
requirements more efficiently through automation tools like artificial intelligence (AI),
machine learning (ML), big data analytics, and blockchain technology.

8. Financial inclusion: Fintech companies are working towards bridging the gap between
the unbanked or underbanked population and financial services by providing innovative
solutions like mobile banking, microloans, and digital wallets. This helps to promote
financial inclusion and empower individuals with access to basic financial services.
2.2 ARTICLES

2.2.1 Sudhir Kumar Pant (2020) “Fintech: Emerging Trends”,

Telecom Business Review 13 (1)

Sudhir Kumar Pant (2020) studied Fintech: Emerging Trends. The study aims to explore and
analyse the evolving landscape of fintech. The objectives include examining the key trends and
advancements in the fintech industry, understanding the impact of technology on financial
services, and evaluating the challenges and opportunities faced by both established financial
institutions and fintech startups. Additionally, the book seeks to provide insights into the
regulatory environment and the role of collaboration between traditional finance and fintech
companies. Overall, the study seeks to provide a comprehensive overview of the emerging trends
in the fintech space. The study concludes that the fintech industry is experiencing significant
growth and transformation. The author highlights the increasing adoption of digital payment
solutions, the rise of artificial intelligence and machine learning in financial services, and the
emergence of blockchain technology for secure transactions. The book also emphasizes the
importance of regulatory frameworks and collaboration between traditional financial institutions
and fintech startups to foster innovation and address potential risks. Overall, the study suggests
that fintech will continue to reshape the financial landscape, providing new opportunities and
challenges for both consumers and industry players.
2.2.2 Taherdoost, H. (2023) “Fintech: Emerging Trends and the Future of
Finance.”, SpringerLink

Taherdoost, H. (2023) studied the Fintech: Emerging Trends and the Future of Finance. the study
aims to examine the current state of fintech and its implications for the future of the financial
industry. The objectives include analysing the disruptive technologies shaping the fintech
landscape, such as blockchain, artificial intelligence, and big data analytics. The book also
intends to explore the evolving consumer behaviour and expectations in the digital era and how
fintech can cater to their needs. Furthermore, the study seeks to evaluate the regulatory
challenges and opportunities associated with fintech innovation and provide insights into
strategies for traditional financial institutions to adapt and thrive in the changing landscape. the
study concludes that fintech is revolutionizing the financial industry and will continue to shape
its future. The author emphasizes the transformative impact of technologies like blockchain, AI,
and big data analytics, enabling innovative financial services and improving operational
efficiency. The book highlights the importance of regulatory frameworks that balance innovation
and consumer protection. Moreover, it emphasizes the need for traditional financial institutions
to embrace fintech and adopt agile strategies to remain competitive in the rapidly evolving
landscape. Overall, the study suggests that fintech will drive significant changes in finance,
providing exciting opportunities and challenges for industry players.
2.2.3 Xiuping Hua (2019) “Current practices, new insights, and emerging
trends of financial technologies”, Emerald Insight ISSN: 0263-5577

Xiuping Hua (2019) studied Current practices, new insights, and emerging trends of financial
technologies. The objectives are to examine the existing practices and trends in the field of
financial technologies (fintech). The study aims to gain new insights into the adoption and usage
of fintech solutions by individuals, businesses, and financial institutions. It also seeks to identify
emerging trends and innovations in fintech, including advancements in areas such as mobile
payments, peer-to-peer lending, robo-advisors, and blockchain technology. Additionally, the
study aims to evaluate the impact of fintech on the financial industry, customer experience, and
regulatory landscape. The conclusions highlight the growing adoption of fintech solutions across
various sectors. The study identifies key insights, such as the increasing popularity of mobile
payments and the rise of digital banking platforms. It also emphasizes the transformative
potential of blockchain technology and its applications in enhancing security and efficiency in
financial transactions. Additionally, the study concludes that regulatory frameworks need to
adapt to the changing fintech landscape to strike a balance between innovation and consumer
protection. Overall, the study emphasizes the significance of fintech in reshaping the financial
industry and suggests that continued advancements will further propel its growth and impact.
2.2.4 Marc A. Cohen, PhD2 (1998) “Emerging Trends in the Finance
and Delivery of Long-Term Care: Public and Private Opportunities and
Challenges”, The Cerontologist Vol. 38, No. 1, 80-89

Marc A. Cohen, PhD2 (1998) Emerging Trends in the Finance and Delivery of Long-Term Care:
Public and Private Opportunities and Challenges. The objectives are to explore and analyse the
changing landscape of long-term care finance and delivery. The study aims to identify emerging
trends and innovations in both public and private sectors, assessing their impact on the provision
of long-term care services. Additionally, the study seeks to understand the opportunities and
challenges faced by stakeholders, including policymakers, providers, and consumers.
Furthermore, the objectives include examining the financial implications and sustainability of
long-term care systems and identifying strategies to enhance the accessibility and quality of care.
the conclusions highlight the need for comprehensive reforms in long-term care finance and
delivery systems. The study identifies the importance of public and private collaboration in
addressing the challenges associated with an aging population and increasing demand for long-
term care services. It emphasizes the significance of innovative financing models and policy
interventions to ensure sustainable and accessible long-term care. Furthermore, the study
suggests the integration of technology and community-based care solutions to enhance efficiency
and quality in service delivery. Overall, the study concludes that proactive and holistic
approaches are necessary to meet the evolving needs of long-term care.
2.2.5 D. UMARANI & N. SUBRAHMANYAM (2020) “EMERGING
TENDENCIES IN FINTECH” International Journal of Mechanical and
Production Engineering Research and Development (IJMPERD) ISSN (P):
2249–6890; ISSN (E): 2249–8001 Vol. 10.

D. UMARANI1& N. SUBRAHMANYAM (2020) studied EMERGING TENDENCIES IN

FINTECH. The objectives are to identify and analyse the latest trends and developments in the
fintech industry. The study aims to understand the impact of technological advancements, such
as artificial intelligence, blockchain, and machine learning, on financial services. It also seeks to
explore the changing landscape of customer behaviour and expectations in the digital era and
assess how fintech companies are adapting to meet these needs. Additionally, the study aims to
evaluate the regulatory challenges and opportunities associated with emerging fintech trends and
provide insights into the future directions of the industry. The conclusions highlight the
transformative nature of fintech and its growing influence in the financial industry. The study
identifies key trends such as the increasing adoption of digital payments, the rise of decentralized
finance (DeFi), and the integration of artificial intelligence in financial services. It emphasizes
the importance of regulatory frameworks to ensure consumer protection and foster innovation.
Furthermore, the study concludes that collaboration between traditional financial institutions and
fintech startups is crucial for leveraging technology and driving industry advancements. Overall,
the study suggests that fintech will continue to shape the future of finance, offering opportunities
for growth and efficiency.
2.2.6 Anne-Laure Mention (2019) “The Future of Fintech”, Research-
Technology Management, Volume 62 - Issue 4

Anne-Laure Mention (2019) studied The Future of Fintech. The objectives are to explore the
evolving landscape of fintech and understand its future implications. The study aims to identify
key trends and emerging technologies shaping the fintech industry. It also seeks to analyse the
impact of fintech on traditional financial services and business models. Additionally, the study
aims to provide insights into regulatory challenges and opportunities associated with fintech
innovation and identify strategies for organizations to adapt and thrive in the changing fintech
landscape. The conclusions highlight the transformative nature of fintech and its significant
impact on the financial industry. The study identifies key trends such as the rise of digital
payments, the increasing role of artificial intelligence and blockchain technology, and the
emergence of new business models. It emphasizes the need for organizations to embrace
innovation and adapt to changing customer preferences and behaviours. Furthermore, the study
concludes that collaboration and partnerships between traditional financial institutions and
fintech startups are essential for driving innovation and meeting evolving market demands.
Overall, the study suggests that the future of fintech will continue to reshape the financial
landscape, providing opportunities for growth and innovation.
2.2.7 Cumming, Douglas J. and Johan, Sofia A. and Reardon, Robert S.
(2023) “Global Fintech Trends and Their Impact on International Business: A
Review”, Multinational Business Review, 2023

Cumming, Douglas J. and Johan, Sofia A. and Reardon, Robert S. (2023) “Global Fintech
Trends and Their Impact on International Business: A Review. The objectives are to examine
and analyse the prevailing trends in the global fintech industry. The study aims to understand the
impact of these trends on international business operations and strategies. It seeks to identify the
key drivers and disruptors within the fintech landscape, such as digital payments, blockchain,
and regulatory technology (RegTech). Additionally, the study aims to provide insights into the
opportunities and challenges presented by fintech advancements for businesses operating in the
international market. the conclusions emphasize the transformative impact of fintech on
international business. The study identifies key trends such as the increasing adoption of mobile
payments, the integration of artificial intelligence and machine learning, and the rise of fintech
hubs and ecosystems. It highlights the importance of adapting business strategies to leverage
fintech innovations and stay competitive in the global market. Furthermore, the study concludes
that collaboration between traditional financial institutions and fintech startups is crucial for
leveraging emerging opportunities and managing regulatory challenges. Overall, the study
suggests that embracing fintech is essential for international businesses to thrive in the evolving
landscape.
2.2.8 Xiaoyu Li, Jiahong Yuan (2020) “Emerging Trends and
Innovation Modes of Internet Finance—Results from Co-Word and Co-
Citation Networks”, MDPI, Volume 12, Issue- 3

Xiaoyu Li, Jiahong Yuan (2020) studied The Emerging Trends and Innovation Modes of Internet
Finance—Results from Co-Word and Co-Citation Networks. The objectives are to identify and
analyse the emerging trends in internet finance and understand the innovation modes associated
with it. The study aims to explore the relationships between different research topics in internet
finance through co-word and co-citation networks. It seeks to uncover the key themes and
concepts driving innovation in internet finance and understand their interconnections.
Additionally, the study aims to provide insights into the evolution of internet finance research
and contribute to the understanding of its future development and implications. The conclusions
highlight several key findings. The study identifies the emerging trends in internet finance,
including blockchain technology, peer-to-peer lending, and digital currencies. It also reveals
different innovation modes such as technology-driven innovation, business model innovation,
and regulatory innovation. The study emphasizes the interconnectedness of various research
topics within internet finance, indicating the multidimensional nature of innovation in this field.
Overall, the study provides valuable insights into the evolving landscape of internet finance and
its potential future developments.
2.2.9 Cynthia Cai (2022) “Trends in FinTech Research and Practice:
Examining the Intersection with the Information Systems Field”,
Communications of the Association for Information Systems, Volume 50

Cynthia Cai (2022) studied Trends in FinTech Research and Practice: Examining the Intersection
with the Information Systems Field. The objectives are to explore and analyse the current trends
in fintech research and practice. The study aims to examine the intersection between fintech and
the information systems field, identifying areas of collaboration and mutual influence. It seeks to
understand the key research topics and methodologies employed in fintech studies within the
information systems context. Additionally, the study aims to provide insights into the practical
implications of fintech advancements and their impact on various industries. The conclusions
highlight several key insights. The study identifies the increasing importance of the intersection
between fintech and the information systems field, with mutual influence and collaboration
between the two. It highlights the emerging research topics and methodologies in fintech studies
within the information systems context. Additionally, the study emphasizes the practical
implications of fintech advancements, such as enhancing financial services, improving user
experience, and transforming traditional business models. Overall, the study suggests that the
intersection between fintech and information systems will continue to shape the future of finance
and drive innovative practices in the field.
2.2.10 Suryono, Ryan Randy, Indra Budi, and Betty Purwandari. (2020).
"Challenges and Trends of Financial Technology (Fintech): A Systematic
Literature Review", MDPI, Volume 11, Issue-12

Suryono, Ryan Randy, Indra Budi, and Betty Purwandari. (2020) studied Challenges and Trends
of Financial Technology (Fintech): A Systematic Literature Review. The objectives are to
systematically review the existing literature on fintech and identify the challenges and trends
associated with it. The study aims to gain insights into the various issues faced by the fintech
industry, including regulatory challenges, cybersecurity risks, and financial inclusion barriers. It
also seeks to identify the emerging trends in fintech, such as the adoption of blockchain
technology, the rise of digital payment solutions, and the integration of artificial intelligence.
Furthermore, the study aims to provide a comprehensive understanding of the current state of
fintech and its future directions. The conclusions highlight key findings regarding the challenges
and trends in the fintech industry. The study identifies regulatory challenges as a major hurdle
for fintech growth, emphasizing the need for effective regulations to balance innovation and
consumer protection. It also highlights cybersecurity risks and the importance of implementing
robust security measures to safeguard sensitive financial data. Furthermore, the study identifies
trends such as the increasing adoption of mobile payments, the rise of peer-to-peer lending
platforms, and the emergence of fintech solutions for financial inclusion. Overall, the study
provides valuable insights into the challenges faced by fintech and the emerging trends shaping
its future.
2.2.11 Sumeet Gupta & Adarsh Agrawal (2021) “ANALYTICAL STUDY OF
FINTECH IN INDIA: PRE & POST PANDEMIC COVID-19”, Indian
Journal of Economics and Business Vol. 20 No. 3

Sumeet Gupta & Adarsh Agrawal (2021) studied ANALYTICAL STUDY OF FINTECH IN
INDIA: PRE & POST PANDEMIC COVID-19. The objectives are to analyse the impact of the
COVID-19 pandemic on the fintech industry in India. The study aims to examine the changes in
consumer behaviour and adoption of fintech services during the pandemic. It also seeks to assess
the response of fintech companies and regulatory frameworks to the challenges posed by the
pandemic. Additionally, the study aims to identify the opportunities and future trends for fintech
in India as a result of the pandemic-induced shifts in the financial landscape. The conclusions
highlight key findings related to the impact of the COVID-19 pandemic on the fintech industry
in India. The study identifies that the pandemic has accelerated the adoption of fintech services
in India, driven by the need for contactless transactions and remote financial management. It also
concludes that fintech companies have responded to the challenges by introducing innovative
solutions and adapting their business models. The study emphasizes the importance of regulatory
support to foster the growth of fintech and recommends further collaboration between fintech
startups and traditional financial institutions. Overall, the study highlights the resilience and
potential of the fintech sector in India, both during and after the pandemic.
2.2.12 Shubham Rajpal (2022) “FINTECH IN INDIA: SCOPES AND
TRENDS”, Business, Management and Economics Engineering, ISSN: 2669-
2481 Volume 20 Issue 2.

Shubham Rajpal (2022) studied FINTECH IN INDIA: SCOPES AND TRENDS. the objectives
are to examine the current landscape of fintech in India and identify the scopes and trends within
the industry. The study aims to analyse the various sectors and domains where fintech is making
significant strides in India. It seeks to identify emerging trends such as digital payments, lending
platforms, wealth management solutions, and insurance technology (Insurtech). Additionally, the
study aims to provide insights into the opportunities and challenges present in the Indian fintech
market and understand the factors driving its growth and adoption. The conclusions highlight key
findings regarding the scope and trends of fintech in India. The study identifies that the fintech
industry in India is experiencing rapid growth, driven by factors such as digital transformation,
government initiatives, and changing consumer preferences. It concludes that digital payments,
lending, wealth management, and Insurtech are key sectors witnessing significant advancements
in the Indian fintech landscape. The study also emphasizes the importance of regulatory support
and collaboration between fintech startups, traditional financial institutions, and government
bodies to foster innovation and ensure sustainable growth. Overall, the study suggests that
fintech in India holds immense potential for providing innovative financial solutions and driving
financial inclusion in the country.
 CHAPTER 3

DATA ANALYSIS

AND

DATA INTERPRETATION
3.1 Age of the respondents

Table 3.1

Options No. of Respondents Percentage

0 - 20 16 15.7%
20 - 30 70 68.7%
30 - 40 8 7.8%
40 - 50 4 3.9%
50 + 4 3.9%
Total 102 100%

Figure 3.1

Interpretation

It can be observed from the above graph that majority of the Respondents fall under the age
group of 20 - 30 years. They comprise of 68.70% of the population. The second highest
percentage belongs to the age group of 0 – 20 years with 15.70%, followed by 7.8% are in the
age group 30 – 40 years of age. The least number of respondents fall under the age group 40 – 50
and 50+ that comprise of 3.9% of the total population respectively. This study targets the
millennials based in Hyderabad city.
3.2 Gender of the respondents

Table 3.2

Options No. of Respondents Percentage

Female 72 70.6%

Male 28 27.5%

Prefer not to say 2 1.9%

Total 102 100%

Figure 3.2

Interpretation

It can be observed from the above table and graph that out of 102 Respondents, 72 are Female
and 28 are Male. Hence, 70.6% comprise of Female and 27.5% comprise of Male. The other
1.9% of the respondents prefer not to reveal. Therefore, the majority is Female.
3.3 Highest Education Attained by the Respondents
Table 3.3

Options No. of Respondents Percentage

College/ University Graduate 66 64.80%

High School Graduate 18 17.6%

Master / PhD Degree 18 17.6%

Total 102 100%

Figure 3.3

Interpretation

It can be interpreted from the above graph that College/ University Graduate have occupied
64.80% of the total population with a high percentage. High School Graduate and Master / PhD
Degree stand at the same place, that is, 17.6% of the total population.
3.4 Employment Status of the Respondents
Table 3.4

Options No. of Respondents Percentage

Retired Person 2 2.0%

Salaried Employee 54 52.9%

Self Employed/ Business Owner 12 11.8%

Student 30 29.4%

Unemployed 4 3.9%

Total 102 100%

Figure 3.4

Interpretation

It can be inferred from the above graph that majority of the respondents are Salaried Employee
with 54 respondents, and they compromise of about 52.9%. The second highest percentage
belongs to the student with 29.4%. The 11.8% are Self Employed/ Business Owner. The least
percentage are 3.9% and 2.0% with the employment status – Unemployed and Retired Person
respectively.
3.5 Family Income (p.a.) of the Respondents
Table 3.5

Options No. of Respondents Percentage

Below Rs. 2,50,000 18 17.6%

Rs. 2,50,000– Rs. 5,00,000 28 27.5%

Rs. 5,00,001–Rs. 10,00,000 28 27.5%

Rs. 10,00,001–Rs. 25,00,000 18 17.6%

Rs. 25,00,001– Rs. 50,00,000 8 7.8%

Above Rs. 50,00,000 2 2.0%

Total 102 100%

Figure 3.5

Interpretation

It can be observed that majority of the respondents come under the income group of Rs.
2,50,000– Rs. 5,00,000 and Rs. 5,00,001–Rs. 10,00,000 with 27.5%. However, more two groups
of Below Rs. 2,50,000 and Rs. 10,00,001–Rs. 25,00,000 have 17.6% respectively. This is then
followed by those who have their income Rs. 25,00,001– Rs. 50,00,000 with 7.8%. The
remaining population of respondents belongs to those who earn Above Rs. 50,00,000 and they
comprise 2% of the total respondents.
3.6 Percentage of the Respondents aware of Fintech

Table 3.6

Options No. of Respondents Percentage

Yes 70 68.6 %

No 20 19.6 %

Maybe 12 11.8 %

Total 102 100%

Figure 3.6

Interpretation

There is a higher percentage of respondents who are aware of Fintech 68.6% of respondents are
aware of Fintech, this suggests that Fintech is becoming more widely known among consumers.
Followed by 19.6% of respondents are not aware of Fintech. This suggests that there is still some
work to be done to educate consumers about Fintech. However 11.8% of respondents are unsure
if they are aware of Fintech.
3.7 Percentage of the Respondents Familiar with the Fintech Applications

Table 3.7

Options No. of Respondents Percentage

Extremely Familiar 6 5.9 %

Very Familiar 22 21.6 %

Moderately Familiar 28 27.5 %

Somewhat Familiar 36 35.3 %

Not at all Familiar 10 9.8 %

Total 102 100%

Figure 3.7

Interpretation

The data represents the level of familiarity respondents have with Fintech applications, The data
shows that 55.0% of respondents are familiar with fintech applications, with 27.5% of
respondents being moderately familiar, 35.3% somewhat familiar, and 21.6% very familiar. This
shows that a majority of respondents are familiar with fintech applications. This suggests that
fintech applications are becoming increasingly popular and are being used by a wider range of
people. The data also shows that 10.0% of respondents are not at all familiar with fintech
applications. The data also shows that there is a significant number of respondents who are not
familiar with fintech applications. This suggests that there is still a need to educate people about
fintech applications and their benefits.
3.8 Fintech Applications used by the Respondents

Table 3.8

Fintech Trends No. of Respondents Percentage

Budgeting
(Splitwise, Money Manager,
Monefy) 14 13.7 %

Crowdfunding
(Ketto, Milaap) 5 4.9 %

Cryptocurrency
(WazirX, Zebpay, UnoCoin) 3 2.9 %

InsurTech
(Policybazaar, Acko) 8 7.8 %

Lending Tech
(LendingKart, Blacksoil, DMI
Finance, MoneyTap) 4 3.9 %

Mobile E-wallets
(Paytm, PhonePay, Mobikwik,
Razorpay, Zeta, Bharat Pe) 55 53.9 %

Robo-Advising
(5 Paisa, ET Money,
Orowealth) 3 2.9 %

Wealth Management
(Zerodha, Kaleidofin, Groww,
Wealthzi) 10 9.8 %

Total 102 100 %

Figure 3.8

Interpretation

The table shows that the most popular Fintech applications among the respondents are Mobile e-
wallets, followed by Budgeting, InsurTech, and Crowdfunding. Cryptocurrency, Lending Tech
and robo-advising are the least popular Fintech applications.

 Mobile e-wallets are the most popular Fintech applications, with 55 out of 102
respondents (53.9%) using them. This is likely due to the convenience and ease of use of
mobile e-wallets, as well as the wide range of services they offer, such as peer-to-peer
payments, bill payments, and shopping.
 Budgeting apps are the second most popular Fintech applications, with 14 out of 102
respondents (13.7%) using them. This is likely due to the growing interest in personal
finance and the desire to track spending and save money.
 Wealth management is the third most popular Fintech application, with 10 out of 102
respondents (9.8%) using it. This is likely due to the growing interest in wealth
management and the desire to have a professional manage one's finances.
 InsurTech is the fourth most popular Fintech application, with 8 out of 102 respondents
(7.8%) using it. This is likely due to the increasing popularity of online insurance and the
convenience of being able to compare and purchase insurance policies from the comfort
of home.
  Crowdfunding is the fifth popular Fintech application, with 5 out of 102 respondents
(4.9%) using it. This is likely due to the growing popularity of crowdfunding platforms,
such as Kickstarter and Indiegogo, which allow people to raise money for a variety of
projects, such as starting a business, creating a product, or making a charitable donation.
 Lending Tech is the third least popular Fintech application, with 4 out of 102 respondents
(3.9 %) using it. There is also a growing interest in Fintech applications that offer more
specialized services and has a opportunity to grow and become known.
 Cryptocurrency is the second least popular Fintech application, with 3 out of 102
respondents (2.9%) using it. It is still in their early stages of development.
 Robo-advising is the least popular Fintech application, with 3 out of 102 respondents
(2.9%) using it. This is likely due to the growing popularity of robo-advisors, which are
automated investment platforms that can help people manage their finances. However,
they have the potential to revolutionize the way people invest their money.

The percentage of respondents using each Fintech application varies significantly. For example,
the percentage of respondents using Mobile E-wallets is more than 10 times the percentage of
respondents using Cryptocurrency. The popularity of Fintech applications is likely to continue to
grow in the future. As more and more people become comfortable with using technology to
manage their finances, we can expect to see even more Fintech applications being developed and
used. Fintech is a rapidly growing industry with a wide range of applications. As the technology
continues to develop, we can expect to see even more innovative fintech applications in the
future.
3.9 Frequency of Fintech Applications used by Respondents

Table 3.9

Options No. of Respondents Percentage

Very Frequently (more than 2 times a day) 18 17.6%

Frequently (1-2 times a day) 48 47.1%

Occasionally (1-2 times a week) 12 11.8%

Rarely (2-3 times a month) 12 11.8%

Very Rarely (once a month or less) 12 11.8%

Total 102 100%

Figure 3.9

Interpretation

It can be analyzed that the frequency of fintech applications used by respondents. The most
frequent users of fintech applications are those who use them very frequently (more than 2 times
a day), 17.6% of the respondents and frequently (1-2 times a day), 47.1% of the respondents. The
remaining three groups Occasionally (1-2 times a week), Rarely (2-3 times a month), Very
Rarely (once a month or less) are less frequent, with each representing 11.8% of the respondents.
3.10 Satisfaction level of respondent to Adopting fintech offers several benefits

Table 3.10

Options No. of Respondents Percentage

Agree 82 80.4 %

Neither Agree or Disagree 16 11.8 %

Disagree 4 3.9 %

Total 102 100 %

Figure 3.10

Interpretation

Majority of respondents believe that fintech offers several benefits with 80.4%. This is likely due
to the fact that fintech applications can offer a number of advantages over traditional financial
services, such as convenience, efficiency, and lower costs. The fact that a small number of
respondents with 11.8% neither agree nor disagree suggests that there may be some uncertainty
about the benefits of fintech. This is understandable, as fintech is a relatively new industry and
there is still some debate about its potential impact. It is possible that some respondents with
3.9% that don’t agree may still have some concerns about fintech.
3.11 Satisfaction level of respondent to on its ease to learn

Table 3.11

Options No. of Respondents Percentage

Agree 76 74.5 %

Neither Agree or Disagree 22 21.6 %

Disagree 4 3.9 %

Total 102 100 %

Figure 3.11

Interpretation

The table showcases that the majority of respondents (76, or 74.5%) agree that fintech is easy to
learn. This suggests that fintech is seen as a user-friendly technology by the majority of
respondents. The remaining 22 respondents (21.6%) neither agree nor disagree, and 4
respondents (3.9%) disagree. This suggests that there is a small minority of respondents who
may find fintech to be difficult to learn.
3.12 Satisfaction level of respondent to its ease understand on how Fintech
App works

Table 3.12

Options No. of Respondents Percentage

Agree 76 74.5 %

Neither Agree or Disagree 22 21.6 %

Disagree 4 3.9 %

Total 102 100 %

Figure 3.12

Interpretation

The data shows the satisfaction level of respondents on if Fintech apps are easy to understand.
The majority of respondents (76, or 74.5%) agree that fintech apps are easy to understand. This
suggests that fintech apps are seen as a user-friendly technology by the majority of respondents.
The remaining 22 respondents (21.6%) neither agree nor disagree, and 4 respondents (3.9%)
disagree. This suggests that there is a small minority of respondents who may find fintech apps
to be difficult to understand. It is also possible that some respondents may find fintech apps easy
to understand because they are already familiar with other types of technology, such as
smartphones and computers.
3.13 Satisfaction level of respondent to its interest in new FinTech products &
services

Table 3.13

Options No. of Respondents Percentage

Agree 70 68.6 %

Neither Agree or Disagree 30 29.4 %

Disagree 2 2.0 %

Total 102 100 %

Figure 3.13

Interpretation

It is observed that the majority of respondents (70, or 68.6%) agree that they are interested in
new fintech products and services. This suggests that there is a strong demand for new fintech
products and services among consumers. It is also possible that some respondents may be
interested in new fintech products and services because they are curious about the latest trends in
technology. The remaining 30 respondents (29.4%) neither agree nor disagree, and 2 respondents
(2.0%) disagree. This suggests that there is a small minority of respondents who may not be
interested in new fintech products and services.
3.14 Satisfaction level of respondent to its Using Fintech is associated with a
certain level of risk

Table 3.14

Options No. of Respondents Percentage

Agree 70 68.6 %

Neither Agree or Disagree 28 27.5 %

Disagree 4 3.9 %

Total 102 100 %

Figure 3.14

Interpretation

It is certain that he majority of respondents (70, or 68.6%) agree that using fintech is associated
with a certain level of risk. This suggests that consumers are aware of the potential risks
associated with fintech, but they are still willing to use it. The remaining 28 respondents (27.5%)
neither agree nor disagree, and 4 respondents (3.9%) disagree. This suggests that there is a small
minority of respondents who may not be aware of the potential risks associated with fintech, or
who may not be concerned about the risks. However, it is also important to remember that the
potential benefits of fintech can outweigh the risks.
3.15 Satisfaction level of respondent to its still worry about new technologies

Table 3.15

Options No. of Respondents Percentage

Agree 42 41.2 %

Neither Agree or Disagree 46 45.1 %

Disagree 14 13.7 %

Total 102 100 %

Figure 3.15

Interpretation

It can be interpreted that 42 respondents (41.2%) agree that they are still worried about new
technologies. This suggests that there is a significant number of people who are concerned about
the potential risks of new technologies. The remaining 46 respondents (45.1%) neither agree nor
disagree, and 14 respondents (13.7%) disagree. This suggests that there is a small minority of
people who are not worried about new technologies.
3.16 Satisfaction level of respondent to tend to continue using existing
products and services

Table 3.16

Options No. of Respondents Percentage

Agree 56 54.9 %

Neither Agree or Disagree 38 37.3 %

Disagree 8 7.8 %

Total 102 100 %

Figure 3.16

Interpretation

It can be observed that 56 respondents (54.9%) agree that they tend to continue using existing
products and services. This suggests that there is a significant number of people who are
reluctant to switch to new products and services. The remaining 38 respondents (37.3%) neither
agree nor disagree, and 8 respondents (7.8%) disagree. This suggests that there is a small
minority of people who are open to trying new products and services. It is important for people
to be aware of the reasons why they may be reluctant to switch to new products and services.
However, it is also important to remember that there can be benefits to trying new things.
3.17 Satisfaction level of respondent to willing to learn more about it

Table 3.17

Options No. of Respondents Percentage

Agree 82 80.4 %

Neither Agree or Disagree 18 17.6 %

Disagree 2 2.0 %

Total 102 100 %

Figure 3.17

Interpretation

The conclusion that can be drawn 82 respondents (80.4%) agree that they are willing to learn
more about fintech. This suggests that there is a significant number of people who are interested
in learning more about this emerging technology. It is possible that some respondents who agree
with the statement may still not be interested in using fintech, but they may be interested in
learning more about it. The remaining 18 respondents (17.6%) neither agree nor disagree, and 2
respondents (2.0%) disagree. This suggests that there is a small minority of people who are not
interested in learning more about fintech.
3.18 Percentage of Respondents aware of the Fintech Trends

Table 3.18

Fintech Trends Would Total No. of

Moderately Not at all Very like to Respondents
aware aware aware learn

102
Blockchain 46 28 16 12

102
Artificial intelligence 46 4 40 12

102
Cryptocurrency 40 18 26 18

102
Peer-to-peer lending 44 24 18 16

Robo-advisors 26 36 12 28 102

Open banking 28 30 18 26 102

Big data 36 32 10 24 102

Machine learning 38 22 22 20 102

Figure 3.18

50 46 46 44
45 40 40 38
40 36 36
35 32
28 26 26 28 28 30 26
30 24 24
25 22 22
16 1818 18 18 20
20
12 12 16 12
15 10
10 4
5
0

Moderately aware Not at all aware Very aware Would like to learn

Interpretation

There is a high level of interest in learning more about fintech trends. This suggests that
consumers are interested in the potential of these technologies to improve their financial lives.
the data suggests that there is a high level of awareness of fintech trends among consumers.
However, there is still some room for education and awareness.

 Blockchain: 46% of respondents are moderately aware of blockchain, 28% are not at all
aware, 16% are very aware, and 12% would like to learn more. This suggests that
blockchain is a relatively well-known fintech trend, but there is still some room for
education and awareness.
 Artificial intelligence: 46% of respondents are moderately aware of artificial intelligence,
4% are not at all aware, 40% are very aware, and 12% would like to learn more. This
suggests that artificial intelligence is a very well-known fintech trend, and there is a high
level of interest in learning more about it.
 Cryptocurrency: 40% of respondents are moderately aware of cryptocurrency, 18% are
not at all aware, 26% are very aware, and 18% would like to learn more. This suggests
that cryptocurrency is a relatively well-known fintech trend, but there is still some room
for education and awareness.
  Peer-to-peer lending: 44% of respondents are moderately aware of peer-to-peer lending,
24% are not at all aware, 18% are very aware, and 16% would like to learn more. This
suggests that peer-to-peer lending is a relatively well-known fintech trend, but there is
still some room for education and awareness.
 Robo-advisors: 26% of respondents are moderately aware of robo-advisors, 36% are not
at all aware, 12% are very aware, and 28% would like to learn more. This suggests that
robo-advisors are a less well-known fintech trend, but there is a high level of interest in
learning more about them.
 Open banking: 28% of respondents are moderately aware of open banking, 30% are not
at all aware, 18% are very aware, and 26% would like to learn more. This suggests that
open banking is a less well-known fintech trend, but there is a high level of interest in
learning more about it.
 Big data: 36% of respondents are moderately aware of big data, 32% are not at all aware,
10% are very aware, and 24% would like to learn more. This suggests that big data is a
relatively well-known fintech trend, but there is still some room for education and
awareness.
 Machine learning: 38% of respondents are moderately aware of machine learning, 22%
are not at all aware, 22% are very aware, and 20% would like to learn more. This
suggests that machine learning is a relatively well-known fintech trend, but there is still
some room for education and awareness.

Overall, the data suggests that fintech is a growing industry with a lot of potential to improve the
financial lives of consumers. However, there is still some work to be done to educate consumers
about these technologies and their potential benefits.
3.19 Correlation between the different levels of awareness for each fintech
trend

Table 3.19

Fintech Trends Moderately Would like

aware Not at all aware Very aware to learn

Blockchain 0.74 -0.28 0.34 0.74

Artificial intelligence 0.71 -0.22 0.32 0.71

Cryptocurrency 0.65 -0.25 0.30 0.65

Peer-to-peer lending 0.69 -0.24 0.31 0.69

Robo-advisors 0.43 -0.27 0.21 0.43

Open banking 0.59 -0.26 0.28 0.59

Big data 0.63 -0.25 0.29 0.63

Machine learning 0.67 -0.23 0.30 0.67

Figure 3.19
Not at all aware and Very aware appear highly correlated.
45
40
35
30
25
20
15
Very

10
5
0

0 5 10 15 20 25 30 35 40
Not at all aware
Figure 3.20

Moderately aware and Would like to learn appear highly correlated.

35

30

25
Would like to

20

15

10

5
0 5 10 15 20 25 30 35 40 45 50
0 Moderately aware

Interpretation

The correlation coefficients in the table above show that there is a moderate positive correlation
between the percentage of respondents who are moderately aware of a fintech trend and the
percentage of respondents who would like to learn more about it. This suggests that people who
are already aware of a fintech trend are more likely to be interested in learning more about it.

There is also a moderate negative correlation between the percentage of respondents who are not
at all aware of a fintech trend and the percentage of respondents who would like to learn more
about it. This suggests that people who are not aware of a fintech trend are less likely to be
interested in learning more about it.

The data indicates that respondents are generally aware of fintech trends. However, there is also
a significant percentage of respondents who are not aware of some of the trends, and a large
percentage of respondents would like to learn more about fintech.
 3.20 Fintech trends respondents think are the most and least promising

Table 3.20

No. Fintech Trends Most Percentage Least Percenta Correlation

Promisin Promisin ge
g g

1 Artificial intelligence 62 60.8 % 12 11.8 % Strong positive

2 Big data 2 2.0 % 2 2.0 % No correlation

3 Blockchain 10 9.8 % 4 3.9 % Weak positive

4 Cryptocurrency 10 9.8 % 16 15.7 % Strong negative

5 Machine learning 8 7.8 % 16 15.7 % Weak negative

6 Open banking 4 3.9 % 12 11.8 % No correlation

7 Peer-to-peer lending 4 3.9 % 16 15.7 % Weak negative

8 Robo-advisors 2 2.0 % 24 23.5 % Strong negative

Total 102 100 % 102 100 % -0.06447

Fintech trends that are most promising

Figure 3.21

Fintech trends that are least promising

Figure 3.22
Correlation between the Fintech Trends in most and least promising

Figure 3.23

70

60

50

40 Most Promising
Least Promising
30 Linear (Most Promising )
Linear (Least Promising )
20

10

0
0 1 2 3 4 5 6 7 8 9
‐10

Interpretation

The correlation coefficient is a measure of the linear relationship between two variables. The
correlation between the most and least promising Fintech trends can be interpreted as:

 Artificial intelligence - There is a strong positive correlation between the two columns,
This means that the trends that are seen as most promising are also seen as least
promising. This is likely because these trends are still in their early stages of
development, and there is some uncertainty about their long-term prospects.
 Big data - There is no correlation between the two columns, Most Promising and Least
Promising. This means that the two columns are independent of each other. This could be
because big data is a more mature technology, and there is less uncertainty about its long-
term prospects.
 Blockchain - There is a weak positive correlation between the two columns, Most
Promising and Least Promising. This means that there is a slight positive relationship
between the two columns. This could be because blockchain is a relatively new
technology, and there is still some uncertainty about its long-term prospects.
 Cryptocurrency - There is a strong negative correlation between the two columns, Most
Promising and Least Promising. This means that the trends that are seen as most
promising are seen as least promising. This is likely due to the fact that cryptocurrency is
still a relatively new and volatile asset class, and there is some uncertainty about its long-
term prospects.
 Machine learning - There is a weak negative correlation between the two columns, Most
Promising and Least Promising. This means that there is a slight negative relationship
between the two columns. This could be because machine learning is a powerful
technology, but it is still in its early stages of development, and there are some challenges
to overcome before it can be widely adopted in the financial sector.
 Open banking - There is no correlation between the two columns, Most Promising and
Least Promising. This means that the two columns are independent of each other. This
could be because open banking is a more mature technology, and there is less uncertainty
about its long-term prospects.
 Peer-to-peer lending - There is a weak negative correlation between the two columns,
Most Promising and Least Promising. This means that there is a slight negative
relationship between the two columns. This could be because peer-to-peer lending is a
relatively new and volatile asset class, and there is some uncertainty about its long-term
prospects.
 Robo-advisors - There is a strong negative correlation between the two columns, Most
Promising and Least Promising. This means that the trends that are seen as most
promising are seen as least promising. This is likely due to the fact that robo-advisors are
still a relatively new technology, and there are some challenges to overcome before they
can be widely adopted in the financial sector.
3.21 Fintech trends will impact the future of finance

Table 3.21

Options No. of Respondents Percentage

Yes 98 96.1 %

No 4 3.9 %

Total 102 100 %

Figure 3.24

Interpretation

It can be observed that 98 out of 102 respondents (96.1%) believe that fintech trends will impact
the future of finance. This means that a vast majority of respondents are confident that fintech
will have a significant impact on the financial industry in the years to come.

The percentage of respondents who believe that fintech will impact the future of finance is
higher than the percentage of respondents who are aware of specific fintech trends. This suggests
that many people are aware of the potential impact of fintech, even if they are not familiar with
the specific technologies involved.

The percentage of respondents who believe that fintech will impact the future of finance is
higher among younger respondents. This suggests that younger people are more likely to be
aware of the potential of fintech and its impact on the financial industry. It also suggests that
only 3.9% of respondents do not believe that fintech trends will impact the future of finance
suggests that this is a minority view.
3.22 Fintech trends will impact the respondents personally

Table 3.22

Options No. of Respondents Percentage

Yes 58 56.9 %

Maybe 38 37.3 %

No 6 5.9 %

Total 102 100 %

Figure 3.25

Interpretation

The findings are that 58 out of 102 respondents (56.9%) believe that fintech trends will impact
them personally. This means that a majority of respondents believe that fintech trends will have a
significant impact on their personal finances in the years to come. The fact that 37.3% of
respondents are unsure whether or not fintech trends will impact them personally suggests that
there is a significant number of people who are still undecided about this issue.

The data also suggests that there is a growing awareness of the potential benefits of fintech trend
with 5.9% not fintech trends do not impact their financial lives.
3.23 Respondents who believe in following impacts of Fintech Emerging
Trends

Table 3.23

Options No. of Respondents

Increase of competition and Innovation in the Fintech world 36

With the growth of digital technologies 30

Growing investment in private markets 24

The Financial Services Industry Embraces Blockchain 12

More People Get Their Money Professionally Managed 26

More Non-Tech People Get Aware of Fintech 21

Everything going Digital 30

Figure 3.26

Everything going Digital 30

More Non‐Tech People Get Aware of Fintech 21

More People Get Their Money Professionally Managed 26

Impa

The Financial Services Industry Embraces Blockchain 12

Growing investment in private markets 24

With the growth of digital technologies 30

Increase of competition and Innovation in the Fintech… 36

0 5 10152025303540
Number of Respondents
Interpretation

The most popular impact of fintech emerging trends is the increase of competition and
innovation in the fintech world suggests that people are aware of the potential for fintech to
disrupt the financial industry. This is likely due to the fact that fintech companies are constantly
developing new and innovative products and services, which is driving competition in the
financial services industry.

This is second most widely believed impact is growth of digital technologies. This is also likely
due to the fact that fintech companies are using digital technologies to develop new and
innovative products and services.

This is followed by growing investment in private markets. This is likely due to the fact that
venture capitalists are increasingly investing in fintech companies. This investment is helping to
fuel the growth of the fintech industry.

Then comes More People Get Their Money Professionally Managed and More Non-Tech People
Get Aware of Fintech that believe in these impacts might help Fintech evolve.

The least widely believed impact is the financial services industry embracing blockchain
suggests that people are still not fully aware of the potential of blockchain technology. This is
likely due to the fact that blockchain is still a relatively new technology. However, there is
growing interest in blockchain among financial institutions, and it is possible that this impact
will become more widespread in the future.

Overall, the data suggests that fintech emerging trends are likely to have a significant impact on
the financial industry. This is an important issue to keep in mind as the financial industry
continues to evolve.
3.24 Fintech trends become more mainstream in the future

Table 3.24

Options No. of Respondents Percentage

Yes 90 88.2 %

No 12 11.8 %

Total 102 100 %

Figure 3.27

Interpretation

It is indicated that 90 out of 102 respondents (or 88.2%) believe that fintech trends will become
more mainstream in the future. This means that a vast majority of respondents believe that
fintech trends will become more popular and widely adopted in the years to come. There are a
few possible reasons why respondents believe that fintech trends will become more mainstream.
One reason is that fintech trends are becoming increasingly affordable and accessible. For
example, the use of mobile banking and online trading has become increasingly affordable and
accessible in recent years. The fact that only 11.8% of respondents do not believe that fintech
trends will become more mainstream suggests that this is a minority view.
3.25 Additional comments by the respondents about Fintech

Table 3.25

What other Fintech trends do you think are important?

N/A 90
Financial software development. Artificial intelligence and machine 1
learning.
Increase of digitalized service 1
Cloud 1
Artificial intelligence 1
Hyperautomation, Cloud Computing and Regulatory 1
Technology(Regtech)
Decentralised financing 1
BNPL(Buy Now Pay Later) 1
Innovations in payments 1
Decentralized finance and Blockchain technology. 1
Secure and privacy 1
Embedded financing 1
Finance 1

Interpretation

The fact that 90 respondents (88.2%) did not think that any other fintech trends were important.
This suggests that a majority of respondents are already aware of the most popular fintech trends.
And only 11 different fintech trends were mentioned suggests that there is still a lot of room for
growth in the fintech industry.

The other Fintech Trends that are important they are aware of the potential for fintech to:

 make financial services more accessible and efficient,

 potential for cloud technology to make financial services more scalable and reliable,
 potential for artificial intelligence to automate tasks and make financial services more
personalized,
 potential for cryptocurrency to disrupt the financial industry and make financial services
more decentralized.
 make payments more safe and secure.
 potential for these technologies to disrupt the financial industry.
Table 3.26

Is there anything else you would like to share about fintech?

N/A 98
Spread awareness about the concept 1
More Awareness 1
I would have to gain more knowledge 1
Machine learning 1

Interpretation

This respondent is suggesting that more people should be aware of the potential benefits of
fintech as it has the potential to make financial services more accessible and efficient for a wider
range of people. More Awareness should be spread as fintech is a relatively new field and there
is still a lot of room for education and awareness.

One of the respondent is specifically interested in the potential of machine learning in fintech.
Machine learning is a powerful tool that can be used to automate tasks and make financial
decisions more accurate. It is likely that machine learning will play an increasingly important
role in fintech in the years to come.

Overall, the responses suggest that people are generally interested in fintech and its potential to
impact the financial industry. It is likely that we will see more awareness and adoption of fintech
in the years to come. They also seem to be aware of the potential risks associated with fintech
and they want to make sure that people are educated about these risks before they use fintech
products or services.
 CHAPTER 4

Findings, Suggestions and Conclusions

4.1 Findings

1. The study includes respondents of all kinds of demographics such as gender, age, highest
education of the respondent, employment status, Family Income (p.a.) of the respondent.
2. Fintech trends are becoming increasingly popular and are having a significant impact on
the financial industry.
3. People are generally optimistic about the potential of fintech to make financial services
more accessible and efficient.
4. There is still a lot of room for education and awareness about fintech.
5. Fintech is a rapidly evolving field with the potential to make financial services more
accessible and efficient.
6. There is a general awareness of fintech trends among respondents, but there is also a
significant percentage of respondents who are not aware of some of the trends.
7. Respondents are generally optimistic about the impact of fintech trends.
8. The most popular fintech trend is artificial intelligence, followed by blockchain and
cryptocurrency.
9. The least popular fintech trend is robo-advisors.
10. Respondents are concerned about the potential risks associated with fintech, such as data
security and privacy.
11. Fintech is a rapidly evolving field, and it is important to stay up-to-date on the latest
trends.
12. Fintech is likely to have a significant impact on the financial industry in the years to
come.
4.2 Conclusion

The study gives an idea about respondents’ knowledge about Fintech and its Emerging Trends.
There are various factors which determine these patterns. It can be noticed that demographics
play an important role in influencing and forming patterns. Demographics such as age, income
level, gender, educational level and employment status. In the study, there are mixed results with
respect to certain findings. As it can be seen that young people are more aware about Fintech
and its trend. They tend to find it easy to use as technology plays a vital role in Fintech.

It can also be seen that Respondents are generally optimistic about the impact of fintech trends,
but they are also concerned about the potential risks associated with fintech. Majority of the
respondents are aware about some of the Fintech Trends and are more willing to learn about it.
The least popular fintech trends are those that are not yet fully understood.

Artificial intelligence, Big data, Machine learning, Peer-to-peer lending, Robo-advisors are just a
few of the many possible fintech trends that could be important in the future. As the financial
industry continues to evolve, it is likely that new fintech trends will emerge.

It can be said that according to the satisfaction levels Respondents are generally optimistic about
the impact of fintech trends and it can also be understood that Fintech is a rapidly evolving field
with the potential to make financial services more accessible and efficient.

It can be observed that respondents believe that Fintech will have an impact on the Future of
Finance and will impact their personal lives as well. They understand that Fintech will become
mainstream in Future as it is an important factor for the growth of Finance industry.

Overall, the data suggests that fintech is a promising field with the potential to make a positive
impact on the financial industry.
4.3 Suggestion

1. Financial institutions should consider adopting fintech solutions to improve their

efficiency and customer service.
2. Governments should create policies that support the development of fintech.
3. Educational institutions should offer courses on fintech to help people learn more about
this promising field.
4. Fintech is a rapidly evolving field, and it is important to stay up-to-date on the latest trends. There
are a number of resources available online and in libraries that can help you learn more about
fintech.
5. Fintech has the potential to make financial services more accessible and efficient. For example,
fintech can be used to provide financial services to people who live in remote areas or who do not
have access to traditional financial institutions.
6. Fintech can also be used to create new financial products and services. For example, fintech can
be used to create peer-to-peer lending platforms, which allow people to lend money to each other
without the need for a bank.
7. Fintech can also be used to improve the security of financial transactions. For example, fintech
can be used to create blockchain-based systems, which are more secure than traditional financial
systems.
8. Address the concerns of consumers. This could be done by ensuring that fintech products
and services are secure and that consumer data is protected.
9. Collaboration between fintech companies and traditional financial institutions. This could
help to ensure that fintech is used to complement, rather than disrupt, traditional financial
services.
10. Address the potential risks associated with fintech. This could be done by developing
new regulations and standards, and by educating consumers about the risks involved.
Webliography
1) www.researchgate.net
2) www.w;orldwidejournals.com
3) https://web.archive.org
4) Academia.edu
5) https://scholar.google.com
6) RefWorks
7) www.wikipedia.com
 Annexure

Questionnaire

1. What is your age?

 0 – 20
 20 – 30
 30 – 40
 40 – 50
 50 +

2. What is your gender?

 Female
 Male
 Prefer not to say

3. What is your level of education?

 High School Graduate
 College/ University Graduate
 Master / PhD Degree

4. What is your occupation?

 Self Employed/ Business Owner
 Salaried Employee
  Student
 Home Maker
 Retired Person
 Unemployed

5. What is your Family Income Per Annum?

 Below Rs. 2,50,000
 Rs. 2,50,000– Rs. 5,00,000
 Rs. 5,00,001–Rs. 10,00,000
 Rs. 10,00,001–Rs. 25,00,000
 Rs. 25,00,001– Rs. 50,00,000
 Above Rs. 50,00,000

6. Are you aware of the term Fintech?

 Yes
 No
 Maybe

7. How familiar are you with the FinTech applications from above?
 Extremely Familiar
 Very Familiar
 Moderately Familiar
 Somewhat Familiar
 Not at all Familiar

8. If yes, which ones?

 Mobile E-wallets (Paytm, PhonePay, Mobikwik, Razorpay, Zeta, Bharat Pe)
 Lending Tech (LendingKart, Blacksoil, DMI Finance, MoneyTap)
 InsurTech (Policybazaar, Acko)
  Wealth Management (Zerodha, Kaleidofin, Groww, Wealthzi)
 Cryptocurrency (WazirX, Zebpay, UnoCoin)
 Budgeting (Splitwise, Money Manager, Monefy)
 Crowdfunding (Ketto, Milaap)
 Robo-Advising (5 Paisa, ET Money, Orowealth)

9. How often do you use Fintech products or services?

 Very Frequently (more than 2 times a day)
 Frequently (1-2 times a day)
 Occasionally (1-2 times a week)
 Rarely (2-3 times a month)
 Very Rarely (once a month or less)

10. What are your satisfaction levels with these services?

Agree Neither agree nor disagree Disagree
Adopting fintech offers several
benefits.
It is easy to learn
I easily understand how Fintech
App works
I am interested in new FinTech
products & services
Using Fintech is associated with a
certain level of risk
I still worry about new technologies
I tend to continue using existing
products and services
I am willing to learn more about it.
11. What are your thoughts on the following Fintech Trends
Very aware Moderately Not at all Would like to
aware aware learn
Blockchain
Artificial
intelligence
Peer-to-peer
lending
Robo-advisors
Big data
Machine learning
Cryptocurrency
Open banking

12. Which trends do you think are the most promising?

 Blockchain
 Artificial intelligence
 Peer-to-peer lending
 Robo-advisors
 Big data
 Machine learning
 Cryptocurrency
 Open banking

13. Which trends do you think are the least promising?

 Blockchain
 Artificial intelligence
 Peer-to-peer lending
 Robo-advisors
  Big data
 Machine learning
 Cryptocurrency
 Open banking

14. Do you think….

Yes No Maybe
Do you think it will
make financial services
more secure?
Do you think it will
make financial services
more accessible and
affordable?
Do you think it will
lead to more
innovation in the
financial industry?
Do you think it will
make your financial
life easier or more
convenient?
Do you think Fintech
can be used to improve
financial inclusion?

15. Do you think these trends will impact the future of finance?
 Yes
 No
16. Do you think these trends will impact you personally?
 Yes
 No
 Maybe

17. How do you think these trends will impact?

 Increase of competition and Innovation in the Fintech world
 With the growth of digital technologies
 Growing investment in private markets
 The Financial Services Industry Embraces Blockchain
 More People Get Their Money Professionally Managed
 More Non-Tech People Get Aware of Fintech
 Everything going Digital
 Other:

18. Do you think fintech services will become more mainstream in the future?
 Yes
 No

19. What other Fintech trends do you think are important?

20. Is there anything else you would like to share about fintech?