Abstract

Businesses must respond quickly and precisely to the very volatile and dynamic market in which they operate. The progress of contemporary information and communication technology and the resulting demand for various creative financial solutions are directly related to the current and dynamic financial environment, which presents the company's operations with several obstacles. With the aforementioned technology, so-called Neobanks, or banks without physical locations, are unquestionably a novelty in the financial sector. A new sector called FinTech has emerged as a result of the quick development of technology, and it is now highly appealing to investors. This industry today offers a wide range of diverse concepts, including P2P lending, cryptocurrency, E-wallets, mPOS acquiring, M-wallets (mobile banking), and T-commerce. Numerous of these tools have already made significant inroads into daily life. Without the involvement of banks, people may get any type of credit through specialized online services from other users, utilize mobile devices to make credit card payments, and receive information about their spending and earnings as related to their cards from anywhere in the world. To maximize added value and get a competitive edge on the market, we might say that these types of new technologies are emerging with time, being welcomed, and being integrated into businesses' business operations. Users no longer need to visit banks and waste their time making credit agreements, exchanging currencies, or looking for ATMs to withdraw cash. Online purchases can be made using new digital currencies in addition to rupees. Although these gadgets make life simpler, they seriously endanger banks.

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