As per reports, the inflation rate for October 2022 was 6.8%; for the year 2021, the annual inflation rate was 5.1% in India. Inflation is on the rise, not only in India but globally. Increasing inflation impacts both consumers and companies – businesses have to deal with the rising cost of production and consumers with […]
India is home to 7500 + fintech startups along with 23 unicorns UPI monthly transactions reached a value of approximately $135 billion Fintech in India has 80 % adoption, compared to 64% in the rest of the world – According to the inputs by Invest India Financial technology, abbreviated as fintech, is a work in […]
“Where there is a will, there is a way.” This is how the fintech sector navigated the rocky roads of rural India. From demonetisation, India recognised the need to adopt new technology and embrace digital payments. Rural India lagged behind the rest of the nation in the digitalisation process. India’s fintech market is the third […]
The banking industry is on the cusp of a significant change. Open banking, which refers to using Application Programming Interfaces (APIs) to allow third-party developers to access financial data, is set to transform banks’ operations. This new wave of open banking presents challenges and opportunities for banks. There are four actions banks need to take […]
In 1994, when Microsoft founder Bill Gates said, “Banking is necessary, banks are not,” many could not comprehend his logic. However, going to a bank for banking transactions is unusual today. The financial services industry has undergone a paradigm shift because of fintech companies. With the widespread usage of the Internet, digital channels such as […]
The Fintech Revolution is sweeping the globe, and India is no exception. The fintech adoption rate in India is higher than the global average of 64%. By 2030, the fintech business will hit $200 billion in revenue. But how did India become a key player in the world of fintech? It’s no surprise that there […]
Non-banking financial companies (NBFCs) are proliferating in India, thanks to the increasing demand for affordable and convenient financial services. Assets in the NBFC sector, as of March 31, 2021, totalled more than 54 lakh crore, or around 25% of the asset size of the banking sector. Despite the growing popularity of NBFCs, they face several […]
In the past few years, India’s startup ecosystem has emerged to be a flourishing ground for its participants. Almost halfway into this financial year, we have 107 unicorn startups, and globally the country ranks third in terms of the size of the startup ecosystem. Where do fintech startups stand in this picture? The Fintech industry, […]
Fintech is the future. Today the statement is truer than ever. A traditionally cash-driven country, India has become the third largest fintech ecosystem globally. The upcoming years sound promising as India’s fintech market is expected to hit USD 150 billion by 2025. The fintech landscape has evolved immensely in the past decade. Of the 2000 […]
The Fintech industry uses innovative digital solutions to optimise financial services and banking. A growing number of NBFCs are offering financial services, including bank accounts, wallets, electronic payments, insurance, and personal loans by offering Banking as a Service. Businesses of all types plan to launch embedded financial services to serve business and consumer segments better, […]
