The Emergence of FinTech with Blockchain Technology

Abstract

The Financial Technology, which is named as FinTech is related to those financial companies or firms that are using innovative technologies to provide their services or products to customers in efficient and easy way. FinTech start-ups firms that are using digital technological methods to compete with traditional banking services, also support finance industries which have a positive impact on the economy of the country. The big investors in the finance sector, predicting that the FinTech can be a well-known future technology for its users. The important advantage of the financial sector is using FinTech that includes only technology-based innovations that are very supportive and familiar to the financial market. Blockchain technology has put a great effect on the existence of FinTech. The FinTech uses secure payment methods when the user makes a transaction from his account with the help of Blockchain technology. In this paper, we investigate the importance, role, and existence of Financial Technologies by using Blockchain technology, also provide a deep review of FinTech applications, integration, challenges, and the future of FinTech using Blockchain, it will provide a good opportunity to have vast knowledge for a new researcher.