India is among the fastest-growing FinTech markets globally, and with 87% FinTech adoption, India shares the top spot with China globally.
Just a few years back, it was hard to imagine a bank going paperless and branchless. It was almost fictional to think of money transfer being done instantaneously–whether within a city or across borders. It was magical to conjure up the image of a loan that can be availed with just a few clicks and minimal documentation. Yet, all these are part of the new banking, financial services, and insurance (BFSI) sector impacted by FinTech today. In a short period, the BFSI sector has embraced so many technology shifts. Today the sector has changed so much with the adoption of,
The FinTech industry presents numerous opportunities and huge growth potential. With digital disruption revolutionizing the finance and banking industry, many professionals consider it wise to switch to FinTech to future proof their career and take control of their professional path.
Indian FinTech is all set to become a global force. The boom in this sector is quite a surprise. Despite adverse times that began with the outbreak of COVID-19 late last year and the economic troubles since the first quarter of 2020, the Indian FinTech trends have shown an upward trajectory. This is especially clear from the investments being made in this sector. Here are four trends that will make Indian Fintech a global phenomenon.
People had high expectations that the economy would rebound in the year 2020 but with COVID-19, it has become a year that will be dreaded by generations to come. The pandemic was declared in March 2020 and began hitting economies and businesses worldwide. COVID-19 has had a massive impact on FinTech Startups and companies and affected the Digital Payments space. Here is a roundup of shortand long-term impacts.
Like every other industry sector, the financial landscape is changing remarkably. With constantly evolving technologies, new global regulations, and increased investment, the industry is growing faster than ever. Of all the trends, the introduction of FinTech remains the most prominent, redefining and disrupting financial services and products in the last decade. However, since it is new, there are bound to be little or no understanding of how actually FinTech works and serves the changing market needs.