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The great recession of 2008–2009 busted the market bubble and highlighted the loopholes in the banking sector related to excessive leverage and inadequate capital. It has led to the increased rigidity of financial regulations, forcing banks to focus more on compliance rather than moving towards innovation. All these factors together led to the emergence of new players in the financial market in the name of financial technology (Fintech) companies. With the help of Fintech, banking operations are now being revolutionised and transformed into techno-friendly systems. They, hence, can promise to act as a game changer for the banking sector as a whole.

This chapter aims to understand different perspectives of Fintech and how it helps the banking sector to improve its operations. This chapter will also offer insight into various types of Fintech instruments used by the banking sector, collaboration between banks and Fintech, and the benefits of its application to the banking sector.

This chapter attempts to lay out a literature review on Fintech. It examines the implications of applying Fintech in the banking sector to revolutionise its traditional banking operations and achieve its pre-established targets. Different techniques banks use to match up with Fintech and adapt it easily in its organisational structure.

This chapter presents a list of challenges linked to the application of financial technology in the banking industry. The chapter will also address the difficulties of using Fintech and ways to deal with them.

How can we better help consumers deal with threats to satisfying their basic motivational needs? When people fail to meet their fundamental needs for value, truth, and control effectiveness, they feel threatened. Are there products and services that can help consumers with these vulnerabilities? Based on a new 2 (prevention value vs. promotion value) × 2 (truth vs. control) motivated activity framework, we argue that different types of motivational threats produce distinct experiences of vulnerability, each of which can be resolved by engaging in unique compensatory activities. This proposal is especially relevant to marketers because brands can use this knowledge to create and promote product and service offerings that directly address these distinct kinds of vulnerability. In this review, we discuss four specific types of consumer threats and examples of branded solutions. We also suggest implications for marketers and open questions that warrant future research.