Impact assessment and execution strategies of fintech in consumer finance: Paving the way forward

Prateek Modi *, Aniruddha Modi and Mayank Sharma

Sir Padampat Singhania University, Udaipur, Rajsthan, India.
 
Research Article
International Journal of Science and Research Archive, 2023, 09(01), 430–438.
Article DOI: 10.30574/ijsra.2023.9.1.0428
Publication history: 
Received on 27 April 2023; revised on 10 June 2023; accepted on 12 June 2023
 
Abstract: 
The increasing adoption of FinTech has revolutionized the consumer finance industry, providing innovative solutions that cater to the needs of consumers. FinTech companies disrupt established financial institutions and challenge the status quo, resulting in a dynamic and rapidly changing landscape. However, the success of FinTech in consumer finance depends on its impact execution, which involves the ability to deliver measurable and sustainable outcomes. This requires a comprehensive understanding of the market, a deep understanding of consumer needs, and the ability to effectively execute strategies that meet these needs. This paper examines the significance of FinTech in consumer finance to perform a comprehensive SWOT and PESTEL analysis of FinTech in consumer finance. Moreover, this is attempting to find out the opportunities and challenges of FinTech in the context of consumer finance and investigate trends of FinTech in consumer finance. By implementing the strategies outlined in this paper, FinTech companies can continue to drive innovation, increase access to financial services, and deliver measurable consumer outcomes.
 
Keywords: 
FinTech; Consumer Finance; Credit Score; Financial Market; Disruption.
 
Full text article in PDF: 
 
Copyright information: 

Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0