Despite showing promising signs of revitalising Indian lending, the challenges faced by fintech companies are by no means insignificant. These generally include a combination of a complex regulatory framework, evolving operational guidelines by the Reserve Bank of India (RBI), and most importantly, document-heavy processes. From Know Your Customer (KYC) documents and income proofs to property […]
The rise of non-banking financial companies (NBFCs) in India can be attributed to their impressive credit appraisal systems and inefficient conventional banking sector. With an impressive CAGR of around 18.7% between 2005-2006 and 2019-2020, NBFCs are among the fastest-growing sub-sectors of the Indian financial system. The growing adoption of NBFC platforms indicates a paradigm shift […]
Fintech combines finance and technology and represents the next phase of financial evolution, focusing on innovation. Fintech users, particularly in digital payments, are forecasted to exceed 3.5 billion in 2024. By 2028, the number will reach 4.81 billion. However, as the fintech acceptance and use grows, so does the cybersecurity threat. In 2023, almost 64% […]
Non-banking financial Companies (NBFCs) offer diverse financial services, such as loans, credit facilities, investment options, insurance, and more. An integral part of the financial system, they cater to the needs of individuals and businesses that remain underserved or unserved traditionally. NBFC software is a valuable tool that enables companies to stay technologically abreast and cater […]
Do you know we have used online banking for almost 20 years? Time has flown very quickly, but the financial sector has changed significantly throughout the years. The demographic shift among young people is influencing the developments in the fintech industry. Younger consumers’ preference for individualised and digitised financial services is transforming the banking landscape. […]
With over 9,000 registered lending fintechs, India has the third-largest fintech ecosystem worldwide. The notable rise in fintech companies can be attributed to several factors including high internet penetration, incompetent banks and financial institutions, evolving consumer behaviour, and favourable regulatory policies. Additionally, India’s large unbanked or underserved population coupled with a thriving startup ecosystem has […]
Digital innovation and fintech have made life easier than ever. There is hardly any waiting in the line. You can simply book tickets, order groceries, or even secure a loan in minutes – all from the comfort of your home. The instant loan market in India is making financial help more accessible than ever with […]
India is presently undergoing tech-led transformation, driving digitisation across key sectors such as manufacturing, healthcare, transport, agriculture, and finance. Among these, fintech companies have emerged as particularly dynamic forces reshaping the financial services landscape. With strong government backing and a surge in fintech innovation, India today hosts the third-largest fintech ecosystem globally. Valued at $31 […]
The arrival of technology and rapid digitisation has certainly revolutionised the global financial sector. Apart from a few exceptions, the speed of innovation has taken a majority of financial institutions by surprise, leaving a significant gap in their ability to adapt and integrate new technologies into their existing processes. As technology continues to impact different […]
The market size of the digital lending industry in India was worth just $ 9 billion in 2012. By the end of 2023, it is projected to reach a value of $ 350 billion. Fintech companies have played a major role in the accelerated growth of digital lending, and in particular, small business financing. The […]
