Month: October 2022

The acceptance and adoption of a paperless and digitized approach have led to a transformation in the banking industry. Fintech has acted as a facilitator in promoting an unconventional approach to money matters. With 6,639 Fintech in India of which, 21 of them stand tall as unicorns, India is the third-largest Fintech-related ecosystem in the… Continue reading Why is India spearheading the Fintech Revolution

Fintech ushered in as an unconventional way of banking but with time and acceptance, presently it is positioned strongly in the market. As per statistics, the Indian Fintech adoption rate is at a whopping 87% against a global average of 64%. This goes on to demonstrate how Fintech and its services are not just creating… Continue reading Career opportunities in the Fintech space

The financial ecosystem has seen a tremendous extension since its formal inception in the year 1770 with the establishment of the Bank of Hindustan. Mere services grew to a full stack of financial services and with the digital revolution, services have been shifting online. Digital banking forms are rapidly increasing across the globe. Payments companies… Continue reading Machine learning techniques for the detection of financial fraud

The year FY 2020 saw a set up of 1,22,721 new businesses which grew to 1,55,377 in FY 2021 and 1,67,076 in FY 2022 at an increased rate of 7.5%. With several new businesses participating in the growth of the economy and thereby, India, it is needless to say that these enterprises must be supported… Continue reading 7 advantages of taking a business loan

Walking with a population of 136 crore Indians with contrasting needs and demands means innovation must be at its finest! To date, traditional banks have taken care of the needs but with Fintech joining hands, services that place customer centricity in the high-importance grid have grown manifolds. The financial world has crossed the road from… Continue reading 5 Reasons Why You Should Take a Top-Up Loan

The Assets under Management (AUM) of gold loan NBFC is expected to grow at 12-14% in FY2022-23. According to an estimate, the organized gold loan is currently valued at Rs 4,149 billion and is expected to grow at a 3-year CAGR of 19.5% to reach Rs 7,557 billion by FY2024. Crisil ratings in the chart… Continue reading Why Gold Loans Come as a Shining Armor

India owns 12 Public Sector Banks (PSBs), 21 Private Banks (PBs) and 43 Regional Rural Banks (RRBs) as of January 2022. Amongst these, only a handful was constituted in recent years while the majority are age-old banks with legacy data, frameworks and policies with long-in-the-tooth customers. These banks have managed to remain cemented in the… Continue reading Lord of the Rings or Collab with the Fintech?

Micro, small and medium enterprises are playing a vital role in the growth of the Indian economy. They contribute to roughly 30% of India’s GDP while employing a whopping 11.10 crore Indians in various sectors of functionality. Given the fact that the majority, i.e., 65% of the Indian population is below the age of 35,… Continue reading The Growth of MSMEs in India

Wealth Management has been an invariable part of society. From saving money in piggy banks to saving it in bank accounts, society has always had the ‘Save The Money’ ideology. With evolution, the brick-and-mortar model of savings converted into tech-driven options that we know today as WealthTech where individuals can save and invest through a… Continue reading Strategic initiatives and the winning game of Wealth Tech

Ancient civilizations paid in beads or coins that eventually changed to gold or silver coins and today, we have adapted to paper money as a form of payment. This goes on to show that ‘Payment’ has been an integral part of our society since the beginning of time irrespective of the type we considered currency.… Continue reading Paytech: The Future of Payment

The Indian regulators are cognizant of the significance of financial inclusion to achieve economic growth and the fact that to achieve the said objective, equitable growth opportunity through inclusive financial services is primary. India being a diverse country with a noticeable disparity in income and education across levels acts as an opportunity and challenge both,… Continue reading Financial Inclusion and Its Impact on Financial Efficiency and Sustainability

Financial inclusion is a key determinant for the development of an economy. However, increasing financial services penetration by setting up Tier II & III cities branches leads to high customer acquisition costs for banks and NBFCs. Additionally, the high cost of delivery, small transaction sizes, lack of credit history, and documentation among rural individuals &… Continue reading The MSME and Rural India Landscape