FinTech enablers, use cases, and role of future internet of things

In the current global trend, financial organizations strive extensively towards smartening finance to derive the benefits of digitalization. In such an effort, Financial Technology (Fintech) involves usage of several contemporary disruptive technologies such as AI, 5G/6G, Blockchain, Metaverse, IoT, etc., in financial industry to add value to the customer services. By the inception of technology, several major financial services and processes such as lending, verification, fraud detection, quality maintenance, credit scoring, and many more will be simplified and augmented. However, there is a need for research and innovation of disruptive financial products and the enabling ecosystem of technologies. Consequently, several tech-giants have focused their attention on Fintech to introduce Information and Communication Technology (ICT) solutions. In this manuscript, we attempt to provide an overview and speculate the contributions of technology enablers of Fintech. In addition, we proposed use cases and frameworks for Fintech using IoT, 5G, Digital twins and Metaverse. Finally, we discuss the challenges and future scope of Fintech.