An Analysis of Fintech App Usage and Its Effect on Mutual Fund Investment Choices in Gujarat: A Review on Literature

Abstract

The rapid growth of Financial Technology (Fintech) has brought notable changes to the financial services sector, especially in the area of investment management. In India, the widespread use of mobile apps and digital platforms has made it easier for individuals to access and invest in mutual funds. This review paper focuses on examining existing studies related to the adoption of Fintech applications and their role in influencing investment behavior. Of Fintech applications and their influence on mutual fund investment decisions, with a specific focus on Gujarat. The study synthesizes findings from various empirical and theoretical works to understand how digital platforms impact investor awareness, behaviour, and decision-making patterns. The review identifies key drivers such as ease of use, accessibility, cost efficiency, and technological trust that encourage the use of Fintech apps. At the same time, it highlights concerns such as security risks, over-reliance on digital recommendations, and behavioural biases. The paper concludes by identifying research gaps and suggesting directions for the scope of future study, with respect to the regional analysis and investor psychology. Furthermore, the review emphasizes the growing importance of regional dynamics, particularly in states like Gujarat, where increasing digital literacy and economic development have accelerated the adoption of FinTech platforms. The study also underscores the importance for the stable approach toward technology based investments by highlighting the role of investor education and awareness in minimizing risks associated with behavioral biases and over-dependence on digital tools. By consolidating existing research, this paper provides meaningful insights for investors, policymakers, and FinTech developers to enhance the effectiveness, inclusiveness, and sustainability of digital investment ecosystems.