Application-based Technology – The scope and prospects with special reference to FinTech and Sustainable businesses

Abstract

The proliferation of smartphones and the widespread availability of the Internet have played a crucial role in the increasing adoption of application-based technology across various domains. From mobile applications that facilitate e-commerce and ride-hailing services to online learning platforms and telemedicine apps, the scope of application-based technology has expanded significantly. Application-based technology has become crucial in today’s banking system also. Peer to Peer Money Transfer Apps, Digital banking Apps, and Investment and Trading Apps have changed the banking landscape. Further services like Insurance, Personal Finance, and money-saving have expanded the horizon of mobile devices. This paper aims at discussing the scope and prospects covering the development of applications for smartphones, tablets, and wearables in the world of Fin-tech. Lastly, it elaborates on how the Covid-19 pandemic boosted the use of technology, and embracing application-based technology for sustainability initiatives is essential for fostering a more resilient and environmentally responsible business ecosystem.