Preface

The rise of cryptocurrency and financial technology (fintech) has drastically changed the way people think and use money. This new type of innovation involves the use of software and other technologies to improve and automate the financial services industry. Some of these include online lending platforms and financial software.

Unlike traditional financial transactions, which are usually controlled by a central bank or government, cryptocurrencies use cryptography to ensure that all transactions are secure. This type of digital currency is decentralized. The rise of cryptocurrency and fintech has been attributed to the technological advancements that have occurred in the financial industry over the past decade. These changes have led to the emergence of numerous startups that have disrupted the traditional financial sector. The rise of cryptocurrencies has raised various questions about the role of central bank and the traditional currency.

Despite the various advantages of cryptocurrencies and fintech, they still have a number of risks that they can potentially affect. For instance, due to the lack of regulation, the lack of proper supervision has led to the emergence and manipulation of market prices and fraud. In addition, the rapid pace of innovation in the financial industry has raised concerns that these technologies could potentially displace thousands of jobs. Due to the rapid emergence and evolution of cryptocurrencies and fintech, policy-makers and the public have become more aware of the potential impact of these innovations on the financial industry. This book explores the history and development of these technologies. It also aims to provide an overview of the multiple potential uses of these innovations.

In this book, we have investigated the various players in the financial industry and examine the potential impacts of these innovations on the economy and consumers. We will also talk about the challenges and risks that have emerged in the space. This book aims to provide a comprehensive understanding of the various aspects of cryptocurrency and financial technology. It will also help financial professionals and technology enthusiasts understand the potential of these innovations. Digital currencies, decentralization of money, and the growth of new technologies like blockchain, the Internet of Things, and machine learning have produced new opportunities and difficulties for banking and finance, as well as users of these services in electronic commerce. New banking and finance technologies may improve operational efficiency, risk management, compliance, and client pleasure, but they can decrease barriers and introduce new concerns, such as cybersecurity risk.

Cryptocurrencies with smart contracts for payments and trading, as well as AI systems with adaptive algorithms that allow picture and speech recognition, expert judgement, group categorization, and forecasting in a variety of fields, are instances of increased automation. Simultaneously, the potentials pose risks and raise regulatory concerns. The rise of blockchain technology and its widespread use have had a significant impact on the operation and management of digital systems. At the same time, researchers and practitioners have paid close attention to digital finance. Blockchain's first applications were limited to the production of digital currency, but it has now been expanded to include financial and commercial applications. Innovative digital finance has had a huge impact on business and society since it has been extensively adopted by businesses and consumers (e.g., digital payment, crowdfunding, digital lending, supply chain finance, and robotic consulting).

The Chapter 1 "Evolution of Fintech in Financial Era" discuss FinTech enables the individual to take appropriate decisions regarding financial services during a reasonable period of time and can be used by individuals as well as businesses for tracking and managing the financial needs. The aim of the paper is to study the various related concepts of FinTech as well as how it works in financial era. The focus is also given to analyze various tools and techniques which can be used in this innovative financial technique. The estimation of future framework regarding FinTech is also incorporated in the study along with its evolution in financial era. The study will provide deep insight into FinTech as it is a U-Turn for the banking mechanism and will play a major role transforming the financial world digitally.

The evolution of financial technology, or fintech, has had a significant impact on the financial industry in recent years. From mobile banking to cryptocurrency, fintech has revolutionized the way we access and use financial services. In this chapter, we will explore the history and development of fintech, as well as its current and future role in the financial industry.

We will also delve into the potential challenges and opportunities that fintech presents for traditional financial institutions, as well as for consumers and businesses. This chapter aims to provide a comprehensive overview of the evolution of fintech in the financial era, and to shed light on its potential to shape the future of finance.

Chapter 2 "Digital Transformation of Financial Services in the Era of Fintech" discuss a conceptual framework highlighting the growth of the financial technology sector. It starts with the concept of digital transformation and how it has impacted the various stakeholders. Our conceptual framework allows us to define FinTech- financial technology and then construct a taxonomy of the various FinTech domains. We apply the notion of digital transformation to the financial sector to better understand where the FinTech concept began and, where it is headed, how Digital transformation has acted as a significant change agent in the fintech sector. Fintech is one of the most critical developments in the financial sector with fast expansion, fueled mainly by favorable legislation, sharing economy and information technology which has created innovative value creation and appropriation pathways for the financial industry. In most countries worldwide, Fintech is rapidly becoming the go-to financial system.

Chapter 3 "Reshaping Banking with Digital Technologies" The banking sector has gone a long way to come into its present form. It is still undergoing changes due to the introduction of various technologies. The digitization in the year 2000 was a step hard to move but now the people are more open to changes and willing to adopt technologies for the sake of convenience. This chapter discusses the banking sector's adoption of Artificial Intelligence (AI), the evolution of fintech, the changes brought by fintech in banking industry and the challenges which the fintech is facing nowadays. The chapter discusses in-depth, the deployment of AI tools like automation RPA, iSaaS and bots. It focuses the areas in banking where AI applications are used and how. Though the changes have made traditional banking look more beautiful ad user friendly, the constant changes in the technology will ultimately define the future.

Chapter 4 "Adoption of Fintech: A Paradigm Shift Among Millennials as a Next Normal Behaviour" The pandemic has put the world into a global health crisis tipping to a paradigm shift in consumer's behaviour towards financial activities. People have adapted themselves to a new pattern in financial transactions like contactless payments, cashless transactions, online transactions and many more. There are greater chances for the end users to continue usage of fintech services during the next normal life (post Covid-19) as they have become familiar with the usage and convenience of fintech services. There is a need for examining the characteristics that control the user's adoption intention of fintech payments apps during and post covid-19. Review of literature indicates that earlier experiments did not measured influence of Covid-19 (pandemic) on the behaviour of the clients. Past studies indicate lack of literature in this topic of study. The study implies to provide insightful hindsight to the existing literature and business community to tap the rural markets that accounts to only 22-28% of India population having access to internet and frame strategies to improve financial infrastructure with financial literacy.

Chapter 5 "A Comprehensive Study of Cryptocurrencies as a Financial Asset: Major Topics and Market Trends" The article comprises a set of theoretical and methodological approaches to studying the concept of "cryptocurrencies as a financial asset and market trends." and identifies some trends of development of the real sector in the project financing market. This paper provides a systematic review of the empirical literature based on the major topics that have been associated with the market for cryptocurrencies since their development as a financial asset. It also presents an overview of the advantages of current trends in the market. Each influences the perception of the role of cryptocurrencies as a credible investment asset class and legitimate value. We posit that cryptocurrencies may perform some useful functions and add economic value, but there are reasons to favor the regulation of the market. While this would go against the original libertarian rationale behind cryptocurrencies, it appears a necessary step to improve social welfare.

Chapter 6 "Customers' Satisfaction and Continuance Intention to Adopt Fintech Services: Developing Countries'...