Financial technology, also known as FinTech is an industry composed of companies that use new technology...

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Financial technology, also known as FinTech is an industrycomposed of companies that use new technology and innovation withavailable resources in order to compete in the marketplace oftraditional financial institutions and intermediaries in thedelivery of financial services.
The use of mobile apps is embedded in the average Mauritianâ€™severyday life while the country already provides services suchdigital insurance, mobile banking amongst others.
Several enterprises, particularly those aiming towards Africa,are already using Mauritius as a viable Fintech platform. Thestable business climate and well-established corporate governanceculture in Mauritius, favorable time zone, excellent connectivityand highly-educated labour, mitigates the high-risk profile ofcertain African countries.
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Considering the Mauritian context , justify what could be thepossible drawbacks of Fintech.
Answer to be in 1000 words

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Fintech is any financial sector related technological innovation It includes retail banking financial literacy and crypto currencies They are becoming new trend and craze which is affecting financial and IT sector This technology is used by new entrants to deliver their services to business and consumers This has also challenged the old working landscape Some of the active areas in Mauritian context are Cypto currency Block chain technology Digital insurances and See Answer

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