Jaipuria International Journal of Management Research

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Introduction to Fintech 3.0 and its Penetration in the Indian Banking System-An Observational Study


Affiliations
1 Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, Delhi– 110009, India
2 Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, Pitampura, Delhi -110034, India
     

   Subscribe/Renew Journal


The word ‘Fintech’ is the abbreviation of financial technology which means technology-enabled solutions to the problems in financial services sector. Technology has been an incumbent service-enabler into the financial service sector. The advent of Fintech, after US-subprime crisis (2008), is witnessed as the new-age era of opendigital banking wherein all solutions – from retail to corporate banking are just a click away. Fintech is being used globally and has also marked its presence in India. Through this research paper, first we will try to find out the various Fintech solutions available globally and what are being used in Indian banking system. Second, this study tries to find out to what extent Fintech is being used as the core service-enabler by top five private and top five public sector banks in India. Finally, we find out how Fintech-enabled banking solutions have helped in bringing customer-centric solutions and in improving operational efficiency of these banks. The paper suggests further research work in the area of regulatory framework required for a more robust Fintech based banking solutions.

Keywords

Fintech, Indian Banking System, Technology Adoption, Efficiency, Emerging Markets.
User
Subscription Login to verify subscription
Notifications
Font Size

  • Arner, D. W., Barberis, J. and Buckley, R. P. (2016, October). FinTech, RegTech and the Reconceptualization of Financial Regulation. Northwestern Journal of International Law and Business .

  • Arner, D., Barberis, J. and Rossbuckley. (2015). The Evolution of Fintech: A New Post-crisis Paradigm? University of New South Wales Law Research Series, 62.

  • Axis Bank. (2018). Annual report 2017-18. Axis Bank.

  • Bank of Baroda . (2018). Annual Report 2017-18. Bank of Baroda Ltd.

  • Central Bank of India. (2018). Annual Report 2017-18. Central bank of India Ltd.

  • Cyrill, M. (2018). Future of Fintech in India – Opportunities and Challenges. India Briefing; https://www.indiabriefing.com/news/future-fintech-india-opportunities-challenges-12477.html/.

  • Deloitte Working Team. (2018). Closing the Gap in fintech Collaboration: overcoming the obstacle to a symboitic relationship. deloitte Center for Financial Services.

  • Dhar, V. & Stein, R. M. (2017, August 3). Fintech platform and Strategy. MIT Sloan School of management, pp. 5183-16.

  • E&Y Working Group. (2017). The Battle for the Indian Consumer: Fintech Companies transform the financial service landscape in India. Ernst and Young LLP.

  • Economic Times. (2018). fintech news. https://economictimes.indiatimes.com/topic/fintech.

  • Financier Worldwide Magzine. (2017, March). Developments in Fintech.

  • HDFC Bank. (2018). Annual Report 2017-18. HDFC bank Ltd.

  • IBEF. (December 2018). Indian Brand Equity Foundation. www.ibef.org; https://www.ibef.org/industry/ecommerce.aspx.

  • ICICI Bank. (2018). Annual Report 2017-18. ICICI Bank Ltd.

  • ICICI Bank. (2018, December 6). ICICI bank completes 20 years of Digital Banking journey. Retrieved from ICICI Bank: https://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-completes-20-years-of-digital-baking-journey-the-bank-launches-revamped-imobile-with-many-industryfirst-features-20180612123039494

  • IDBI. (2018). Annual Report 2017-18. IDBI bank Ltd.

  • Iyenger, J. and Belvalker, M. (n.d.). Case Study of Online Banking in India : User Behaviour and Design Guidelines. www.underindesign.com . www.underindesign.comimagespapers.

  • Jakši, M. and Marin, M. (2015, September 04). The Future of Banking: The Role of Information Technology.

  • Kotak Bank. (2018). Annual Report 2017-18. Kotak Bank Ltd.

  • KPMG; NASSCOM. (2018). Fintech India - Powering a Digital Economy.

  • Margaret, R. (n.d.). Search Enterprise AI. Retrieved from Search Enterprise AI: https://searchenterpriseai.techtarget.com/definition/machine-learning-ML

  • Philippon, T. (2016, August). The Fintech Opportunity. NBER Working Paper Series . PNB Bank. (2018). Annual Report 2017-18. PNB Ltd.

  • RBI,Notification. (2001, June 14). Internet Banking in India-Guidelines. https://m.rbi.org.in/NotificationUser.

  • SBI Bank. (2018). Annual Report 2017-18. SBI bank Ltd.

  • Working Group. (2017). Fintech and Digital Banking in India. Mumbai: Reserve Bank of India.

  • Yes Bank. (2018). Annual Report 2017-18. Yes Bank Ltd.


Abstract Views: 477

PDF Views: 1




  • Introduction to Fintech 3.0 and its Penetration in the Indian Banking System-An Observational Study

Abstract Views: 477  |  PDF Views: 1

Authors

Rajiv Kumar Goel
Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, Delhi– 110009, India
Akanksha Garg
Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, Pitampura, Delhi -110034, India

Abstract


The word ‘Fintech’ is the abbreviation of financial technology which means technology-enabled solutions to the problems in financial services sector. Technology has been an incumbent service-enabler into the financial service sector. The advent of Fintech, after US-subprime crisis (2008), is witnessed as the new-age era of opendigital banking wherein all solutions – from retail to corporate banking are just a click away. Fintech is being used globally and has also marked its presence in India. Through this research paper, first we will try to find out the various Fintech solutions available globally and what are being used in Indian banking system. Second, this study tries to find out to what extent Fintech is being used as the core service-enabler by top five private and top five public sector banks in India. Finally, we find out how Fintech-enabled banking solutions have helped in bringing customer-centric solutions and in improving operational efficiency of these banks. The paper suggests further research work in the area of regulatory framework required for a more robust Fintech based banking solutions.

Keywords


Fintech, Indian Banking System, Technology Adoption, Efficiency, Emerging Markets.

References





DOI: https://doi.org/10.22552/jijmr%2F2019%2Fv5%2Fi2%2F189056