"No other country offers the depth, width and length of issues faced in the banking and financial services sectors"
The USA has the largest number of start-ups in the world, followed by China and India. With the entire ecosystem of government, academia, industry and venture capitalists supporting the startup culture in India, it won’t be long before India replaces China as the country with the second-largest number of startups, and eventually, the USA. The first step is likely to happen by 2025, and hopefully, the leadership position will follow within a few years after that.
The fintech sector in India probablyoffers the maximum scope for innovation and disruption. No other country offers the depth, width and length of issues faced in the banking and financial services sectors like the ones faced in India.
The spectrum of the problems is immense: from one sector of the population having access to sophisticated financial instruments to millions of people being unbanked, from a creaking old financial services delivery model in the physical model to an efficient app-based instantaneous fulfilment model and an older generation subjected to a languorous lending model to the new millenniums desiring an instantaneous loan approval model, India has it all!
Published on: March 1, 2021