Fintech" is a concept used to describe the words "finance" with "technology," and it refers to any business that uses technology to improve or automate financial services and operations. The term refers to a fast-expanding industry that serves both consumers and corporations in a variety of ways. Fintech offers a seemingly limitless number of uses, ranging from mobile banking and insurance to cryptocurrency and investment apps. Fintech development is driven by technological breakthroughs, which will continue to drive innovative business models in financial services. As all of us are already aware with the concept of blockchain and how it has revolutionized the working of banking sector and trade finance. Quantum computers are one such example of advancement, they are big data computation machines that make use of quantum physics features. It holds great potential for finance and accounting. Although full-scale quantum computers are still years away, the industry should remain proactive in preparing for the implications of this paradigm-shifting technology. Quantum computers will be able to deliver processing power on an unimaginable scale; They can be used for stock forecasting, asset and bond returns, variance and co-variance, in risk analysis and real time fraud detection. Implications of Data Analytics with the help of tools like Tableau is another popular rising technology, which helps in visualisation of data, Tableau offers cognitive data analytics and insight capabilities that automatically analyse and interpret data submitted to the platform. This can be quite effective when working with massive financial statistics and can lead to various key financial conclusions. Fintech is establishing itself all over the world, and India is extending its lead in fintech investments. India's various start-ups, which offer novel technology to minimise the information asymmetry between financial institutions and investors, are fuelling their growth. Since the demonetisation act in late 2016, India's quick adoption of digital/online payments has also aided the expansion of the country's fintech business. Thank you.
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