This study aims to reveal the effect of the increase in financial technology on financial deepening and economic growth, financial deepening, economic growth, fintech, trade openness, inflation, and gross fixed capital formation data of BRICS-T (Brazil, Russia, India, China, South Africa, and Turkey) countries are analyzed using Panel EGLS method for the period 2008–2020. Panel A was formed to reveal the effect of fintech on financial deepening, and Panel B was formed to reveal the impact of fintech on economic growth. As a result of the analyses, a positive and significant relationship was found between Fintech and financial deepening. This is a result of increased diversity and access to financial services provided by Fintech, which positively impacts financial deepening. Similarly, a positive and significant relationship was found between fintech and economic growth. This situation indicates that the increased penetration of financial services due to digitalization leads to increased productivity and investment opportunities. This situation can be interpreted as Fintech playing an essential role in economic growth. Based on the findings of this study, it is recommended that policymakers increase financial literacy training for households and strengthen practices to strengthen digital infrastructure.