Application of Fintech in the Modern Banking Industry

Abstract

This research paper explores the application of Financial Technologies in the modern banking industry. FinTech is a new world of artificial intelligence and machine learning technologies that boost the banking sector's capabilities. With this availability, the distinguished processes in the banks will have the potential to store big data and compute it efficiently. There will be cut-throat competition between the emerging banking leaders whom the huge companies will substantially influence as the power of FinTech applications will back them. This will result in revenue generation and maximum usage of available resources in various sectors like investment banking, trading, and various other verticals of Fintech. It is termed a disruptive innovation since it will bring many advancements in the modern banking sector.