FinTech is a new innovation that is revolutionizing the commercial and financial sectors by opening up a wide range of opportunities and providing unrivalled room for growth. All areas and divisions of the finance industry are being significantly impacted, including banking, money transfers, personal and company loans, investing, mobile banking, point-of-sale payments, and many more. Big Tech firms are focusing on the financial services industry, which is helping the FinTech market expand.
FinTech refers to innovative business models in the financial sector facilitated by technology. Such innovation has the power to upend established industry structures and obfuscate industry lines, facilitate strategic disintermediation, revolutionize how businesses produce and deliver goods and services, pose serious privacy and regulatory challenges, and complicate law enforcement efforts. It can also open up new doors for entrepreneurship and plant the seeds of inclusive growth.
Cashrich-FinTech lab at Prestige Institute of Management & Research- Gwalior shall provide an applied, experiential environment in which students, faculty and even corporate partners can experiment with the technologies transforming financial services. It nurtures the idea of innovation. It makes students learn the toughest industry challenges and make students keep pace with rapid change. Students learn to give innovative solutions and specialized advisory services to clients, even client specific solutions are learnt. Data analytics, machine learning and blockchain technologies are the base components of the lab. The lab provides mentorship to the students eager to become Fintech entrepreneurs.