"Financial Technology: A New Development in the Financial Sector"

The Indian financial sector is adapting by developing novel approaches to better serve the needs of its customers. Before the widespread use of fintech, business owners and startups had to approach financial institutions in search of funding. Establishing a credit provider relationship and installing equipment, like a landline-connected card reader, would be required if they wanted to take credit card payments. With today's advancements in mobile technology, those problems are now history. The country's financial sector is being revolutionised by fintech. Although the Indian regulators have been supportive of fintech's expansion and widespread use, there are still people who aren't being adequately served by the financial system because they are unbanked or underbanked. Taking into account the fact that the Micro, Small, and Medium-Sized Enterprise (MSME) sector in India suffers from a significant lack of access to credit. Because to this void, Fintechs now have a great chance to reach previously unreached demographics. Fintechs have been a lifesaver for the MSME industries, which have been suffering from a lack of funding, thanks to their innovative use of technology and data-crunching prowess. The current study, which relies on secondary data, aspires to evaluate Fintech's effect on MSME's and the role it is playing by providing novel solutions for the instantaneous acceptance of digital finance. There are some obstacles to Fintech lending that are illuminated by the study.