Lending and borrowing is a vicious cycle; a cycle that never ends if not controlled properly. In such a scenario where small start-ups ate facing problems initially, and people are struggling with their financial issues, Fintech has proved to be an unmatched tool to cope with the broken economy.
Leading the pack
Yes, AI is ruling the market, but several startups also prefer to come under the umbrella of Fintech. In the past few years, India has proved to be a breeding ground for Fintech startups. With Fintech, both merchant-oriented and consumer-oriented companies are emerging with the same pace that is considered to be an interesting trend in the industry of finance.
This indicates the possibility of sheer balance that is indispensable to thrive among the competition. As per the recent reports by NASSCOM the market for the Indian fintech finance industry is estimated to hike to USD 2.4 billion by 2020 from a current USD 1.2 billion that is quite a huge increase.
More power to the consumers
Fintech companies work with the sole aim of providing financial stability to the unbanked promoting a digital India. Along with the technology to aid finance the willpower and workforce is also a vital part in Fintech companies. Customers can deliberately experience the safe, faster and easy transaction environment that is a boost to the digital economy of India.