ABSTRACT
Wealth management has been one of the financial services that has been disrupted in a big way by FinTech firms. Almost all the FinTech firms provide wealth management/financial advice through their digital platforms and can be accessed by customer through their mobile devices. FinTechs offering financial management services are delivering the same with a transformational user experience, by enabling the users to track their bank accounts, credit card details, investment details, loan balances and transactions through a single-user interface. FinTechs, as in other financial domains, are transforming the payment industry as well by introducing alternative business models. The payments industry is one of the most complex industries in the financial world. There are multiple players in this industry who work in tandem to make a payment transactions work. Some of the FinTechs are using a mix of digital tools and personal advice for an individual to help him/her do financial planning.
