Published Online:August 2025
Product Name:The IUP Journal of Bank Management
Product Type:Article
Product Code:IJBM030825
DOI:10.71329/IUPJBM/2025.24.3.37-50
Author Name:Ajoe Antony and Shakuntala Jain
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:37-50
Financial technology (fintech) has emerged as a transformative force reshaping global financial services, fostering innovation, enhancing efficiency, and driving financial inclusion. India and the United Arab Emirates (UAE) have positioned themselves as key hubs in this rapidly evolving ecosystem, characterized by technological adoption, regulatory support, and collaborative cross-border initiatives. This paper examines the evolution, current state, and future prospects of India’s fintech landscape, while highlighting the emerging India-UAE fintech corridor. Key aspects analyzed include open banking, embedded finance, emerging technologies such as artificial intelligence (AI), blockchain, generative AI, and decentralized finance (DeFi), along with cross-border regulatory harmonization, digital infrastructure synergies, and risk mitigation strategies. Challenges such as cybersecurity threats, regulatory complexity, financial literacy, workforce disruptions, and infrastructural disparities are also discussed. Finally, the study outlines recommendations for policy interventions, technology adoption, and collaborative frameworks aimed at promoting sustainable growth and advancing the vision of Viksit Bharat 2047
Financial technology (fintech), refers to technology-driven innovations that disrupt traditional financial services by offering novel applications, processes, and business models that enhance efficiency, accessibility, and customer experience (Ghani, 2024). Globally, fintech is redefining financial ecosystems, transforming the way financial institutions, regulators, and consumers interact. Emerging economies such as India have leveraged fintech to bridge financial gaps, increase inclusion, and accelerate digital transformation. Simultaneously, nations like the United Arab Emirates (UAE) have embraced regulatory innovation and technological adoption to position themselves as regional fintech hubs.