ABSTRACT
After the financial crisis of 2008, the financial industry was rebuilding itself by ensuring compliance, regulations and leveraging new ways of doing business introduced by FinTechs. While the industry was discovering new business models to delight its customers, the technology world was evolving in parallel. After the introduction of desktop computers, there was no significant disruption that impacted the financial services industry for a long time. The introduction of mobile applications has been one of the single largest disruptions in the manner we consume content and functionality. Every organization interacts with its customers through content or functionality. The introduction of the mainframe by IBM can be termed as one of the first technology disruptions in the information technology industry. In fact, payments and lending were one of the first business functions that FinTechs disrupted. Disruptions in payment and point-of-sale technology has been instrumental in enabling financial technology start-ups to bring about new and innovative ways of doing payments.
