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FinTech: Application of Artificial Intelligence in Indian Banking

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Proceedings of International Conference on Communication and Artificial Intelligence

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 435))

Abstract

Indian Banking system have a lot on their plate including the dynamism of emerging competitors, shifting demographics, augmenting expectations of customers, changing regulations and its compliance. Technology offers solutions in the form of FinTech applications. Using data from Report of working group on fintech and digital banking (2017) by Reserve bank of India, this study captures the role of financial technologies or fintech in the financial industry, banking sector in particular. The paper is believed to add value by extensively highlighting the recent trends and cutting edge innovations in fintech for Indian banking. Fintech is now an integral part of Indian banking system, it has transformed challenge into an open door for more adaptability, better serviceability in some areas of the bank. This study suggests a pathway for the evolution of a fintech in changing the business and customers. It will probe deeper into the structured evolution of fintech-based innovations and also relationship between fintech and financial inclusion. The analysis recommends that there can be frontier in creation of value in further exploration of the new insights on upcoming financial technology and its consequences on banking industry.

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Author information

Authors and Affiliations

  1. GLA University, Mathura, UP, India

    Khusboo Srivastava & Somesh Dhamija

Authors
  1. Khusboo Srivastava
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  2. Somesh Dhamija
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Corresponding author

Correspondence to Khusboo Srivastava .

Editor information

Editors and Affiliations

  1. Department of Electronics and Communication Engineering, GLA University, Mathura, India

    Vishal Goyal

  2. Department of Electronics and Communication Engineering, GLA University, Mathura, India

    Manish Gupta

  3. Torrens University Australia, Adelaide, SA, Australia

    Seyedali Mirjalili

  4. Atal Bihari Vajpayee-Indian Institute of Information Technology and Management, Gwalior, Madhya Pradesh, India

    Aditya Trivedi

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Srivastava, K., Dhamija, S. (2022). FinTech: Application of Artificial Intelligence in Indian Banking. In: Goyal, V., Gupta, M., Mirjalili, S., Trivedi, A. (eds) Proceedings of International Conference on Communication and Artificial Intelligence. Lecture Notes in Networks and Systems, vol 435. Springer, Singapore. https://doi.org/10.1007/978-981-19-0976-4_50

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  • DOI: https://doi.org/10.1007/978-981-19-0976-4_50

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-19-0975-7

  • Online ISBN: 978-981-19-0976-4

  • eBook Packages: EngineeringEngineering (R0)

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