BT Banking & Economy Summit: Next UPI moment in fintech sector might just be 5 years away, says Gunit Chadha of APAC Financial Services
Fintech section is currently enhancing rapidly, revolutionizing individuals and businesses with financial services. Fintech Firms enhance financial transactions, efficiency and safety by the promotion of digital payments, blockchain technology and artificial intelligence.
Whether it refers to mobile banking, peer lending or wealth management, leading Fintech companies are in this shift.
Speaking at the BT Banking and Economy Summit, the APAC Financial Services Weapons noted that the increase in digital requirements, which applies to financial strategy transactions, has created the industry of the growth and regulatory barriers of Fintech companies.
Speaking about the next big point for the Fintech section, as Chada said a few years ago, the rural intake of digital payments could be the next big for the sector.
“I think when rural and semi-annual India becomes digitally literate and included in digital financial architecture, I think that when we can really arrive. Digital footprint is created. Therefore, next to India may be no more than 5 years. I think we are guided in the right direction, “Chadan said Thursday.
India is the third largest Fintech Startup ecosystem at home, positioning itself as a fast expanding area. In more than 9,000 Fintech companies in different industries, they collectively take into account the 14% share of the total balance of startup in the country.
The growing demand for digital solutions, including payment services and financial advice, creates growth and innovation in the Fintech industry. However, these enterprises also meet the regulatory challenges, which increase the sector, driving its rapid evolution.
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