Use of Information Technology and networking have drastically modernized banking services to the customers and reduced the transactions cost, apart from facilitating quick information and introduction of innovative products. This will help the economy to be competitive globally. This article is a comprehensive coverage of various drivers of e-finance that make optimal use of it.

Financial companies and banking giants all over the world are growing tremendously in the last few years; they are approaching economy of scale by providing e-based services. This is just a beginning of the e-finance era. E-finance can be defined as gist of financial products and services which are available to the consumer through the Internet. Innovation of internet has mainly accelerated major areas of financial services industry. The technology has helped the financial sector with high transperancy in pricing, given scope for differential pricing and total transformation of distribution channels. In this article, we will discuss the different innovative product that helps in development of e-finance across the globe.