Abstract

Financial technology, also known as FinTech, has emerged as a transformative and ground-breaking force within the Indian banking system. By integrating innovative FinTech solutions into the banking sector, notable advancements have been achieved in both customer experience and operational efficiency. Leveraging cutting-edge solutions like mobile banking and digital wallets, previously underserved individuals now have the means to access essential financial services. One of the most significant contributions of FinTech lies in its instrumental role in combating fraudulent activities and bolstering security measures within the Indian banking system. Employing advanced technologies such as biometric authentication, artificial intelligence, and blockchain, security protocols have been fortified to safeguard customer data and proactively detect instances of fraud.

Description