Fintech, a term used to describe financial technology, is a rapidly growing industry that has revolutionized the financial services sector. With the rise of fintech, traditional banking systems are facing challenges to keep up with the changing demands and expectations of consumers. In this blog, we'll take a look at how fintech has emerged, its impact on the traditional banking system, and what the future holds. Emergence of Fintech The fintech industry emerged with the advent of digital technology, which has enabled financial services to be provided more efficiently and effectively. Fintech companies have leveraged technology to create innovative products and services that cater to the evolving needs of consumers. The rise of mobile banking, online payments, peer-to-peer lending, and other fintech products have made it easier for consumers to access financial services from the comfort of their homes. Impact on Traditional Banking System Fintech has had a significant impact on th...