Fintech is also known as financial technology. It includes using modern tools for the improvement of financial services at large. It has its applications from managing sales to operations and to managing performance. There are ample opportunities in this sector such as digital payment service, Big Data and Analytics, Block-chain Technology, Peer to Peer Lending Services, Equity Funding Services, Social trading etc. But there are few challenges as well like application safety and security challenges, Data protection and Privacy, customized services, regulatory and compliance laws, dynamic revenue and business models, unbanked and financially illiterate population etc. If the opportunities are properly utilized and challenges are reduced then the actual benefit of fintech can be achieved.