FinTech in India is in high growth mode with investments in FintTech startups topping $1.5bn in 2017. The coming year promises to exceed that as the industry is at an inflection point. Here’s a little bit of crystal ball gazing on what the FinTech future looks like. Policy push will continue to drive Innovation: The
Banks today continue to be driven by the dual objectives of driving business innovation to deal with the threats created by the Fintech players and the digital only neo-banks, and creating cost optimization through operational efficiency initiatives. In a growth constrained environment, the investments needed to fuel business innovation has to come from the savings
It is a globally accepted fact that moving to a cashless economy is good for growth. Several studies have indicated that the adoption of alternative methods for money transfer and payments provide benefits to all actors in the ecosystem – the government and central bank, commercial banks, the industry as well as the end consumers.