Presentation script

Industry overview
What you understand by word fintech?

"Fintech" is a short way of saying "financial technology." It's like using new and smart
technology to make handling money easier and better for everyone. Fintech services include
all kinds of cool things that help with money stuff, like banking on your phone, paying for
things online, borrowing money without going to a bank, or even investing in stocks or
cryptocurrencies using apps. Basically, fintech services are about using technology to make
managing money simpler, faster, and more convenient for everyone.
In simple terms, the Fintech industry, which combines finance with technology, plays a
crucial role in driving overall economic growth in India. As technology continues to advance
and mobile and internet penetration increases rapidly across the country, Fintech companies
are leveraging these platforms to expand financial services to a wider population. While
traditional banking still dominates with public sector banks, Fintech firms are finding
opportunities to innovate and collaborate, rather than compete directly. They offer services
like digital lending, payments, investment sales, and financial inclusion, addressing areas
where traditional banks may not have reached effectively. By working closely with new
generation private banks, Fintech companies are fostering synergy, resulting in mutual growth
and increased business opportunities.
The FinTech Market size is estimated to reach $851 billion by 2030, growing at a CAGR of
18.5% during the forecast period 2023-2030. Fintech is the usage of new technological
breakthroughs such as artificial intelligence, application programming interfaces and
blockchain for financial goods and services improvement and automation.

Major segment under fintech service include

Sure, here are simplified explanations of different segments of Fintech services with
examples:

1. Digital Payments: Using your phone or computer to pay for things instead of using cash or
cards, like paying with apps such as Google Pay or PayPal.
2. Lending and Crowdfunding: Borrowing money or raising funds online without going
through traditional banks, like getting a loan through platforms such as Kiva or applying for a
personal loan on a digital lending app. Like ketto gofundme kickstarter funding circle start
engine, fundable
3. Insurtech: Using technology to make buying and managing insurance easier, like
purchasing insurance policies online or using apps to file claims quickly.
India: policy bazaar digital insurance paytm insurance acko general insurance one insure
in woreld oscar health go health digit insurance hippo
4. Robo Advisory: Getting investment advice and managing your finances with the help of
automated algorithms instead of traditional financial advisors, like using robo-advisors such
as Betterment or Wealthfront. Kristal mintwalk piggy balance goal wise fund expert
worldwide: sofi future advisor m1 finance wealth simple
5. Personal Financial Management: Using apps or platforms to track your expenses, manage
your budget, and plan for your financial goals, like budgeting apps such as Mint or personal
finance platforms like YNAB (You Need a Budget). Good budget walnut paytm money
mint money control grow

growth of global market of fintech services

how big is global fintech market?
The global fintech market size is expected to reach 312.92 billion$ in 2024 and grow at
CAGR of grater than 14 % to reach USD 608.35 billion by 2029
Key player in global fintech market?
Coinbase robinhood and paypal are the major companies operating in the global fintech
market.
Which is the fastest growing region in global fintech market ?
Asia pacfic is estimated to grow at highest CAGR over forcasted period (2024-2029)

Which region has the biggest share in global fintech market?

In 2024 the north america accounts for the largest market share in global fintech market with
41.78 bn $ us The North America Fintech Market size in terms of transaction value is
expected to grow from USD 4.93 trillion in 2023 to USD 9.52 trillion by 2028, at a CAGR of
14.07% during the forecast period (2023-2028)

What are the key techonology innovations sharping the fintech market?
The key techonology innovations sharping the fintech market are 1 application
programming interface 2 robotic process automation 3 blockchain and data analytics
Sure, let's break down each key technology innovation shaping the fintech market in easy
language with an example:

1. Application Programming Interface (API): APIs are like digital bridges that allow different
software systems to talk to each other and share information. For example, when you use a
banking app on your phone to check your account balance, it's using APIs to connect with the
bank's servers and retrieve your account information securely.
2. Robotic Process Automation (RPA): RPA involves using software robots or bots to
automate repetitive tasks that are usually done by humans. For instance, in a fintech
company, RPA can be used to automatically process loan applications by extracting relevant
information from documents and entering it into the system without human intervention.
3. Blockchain: Blockchain is a digital ledger technology that stores information across a
network of computers in a secure and transparent way. One common example of blockchain
in fintech is cryptocurrencies like Bitcoin, where transactions are recorded securely on a
decentralized blockchain network, eliminating the need for intermediaries like banks.
4. Data Analytics: Data analytics involves analyzing large sets of data to uncover insights and
make informed decisions. In fintech, data analytics can be used to detect patterns in customer
behavior, identify potential fraud, or personalize financial services. For example, a fintech
company might use data analytics to analyze spending habits and offer personalized
investment recommendations to its users.

growth of indian market of fintech services

India has emerged as one of the fastest-growing fintech markets in the world with a market
size estimated at US$ 150 billion by 2025.
investment corpus in Indian insurance sector might rise to US$ 1 trillion by 2025.

With >2,100 fintechs operating currently, India is positioned to become one of the largest
digital markets with rapid expansion of mobile and internet.
With kpmg in india and nasscom 10000 startup proficiency in the fintech sector
Ai is ganing momentum in india with over 400 ai related startup are attracting investment of
usd 150 million just over the last five years
India is a global leader in Fintech adoption with a rate of 87%, much higher than the global
average of 64%. The Indian Fintech market was valued at $50 billion in 2021 and is expected
to reach $150 billion by 2025.

The Payments landscape in India is expected to reach $100 Tn in transaction volume and $50
Bn in terms of revenue by 2030. India's digital lending market was worth $270 Bn in 2022
and is expected to reach $350 Bn by 2023. India is the 2nd largest Insurtech market in Asia-
Pacific and is expected to grow by ~15X to reach $88.4 Bn by 2030; India is poised to
emerge as one of the fastest growing insurance markets in the world. The Indian WealthTech
market is expected to grow to $237 Bn by 2030 on the back of a growing base of retail
investor India is a 3 largest fintech ecxosystem globally. Over 3000 fintech startups are
registered by dpitt in india

Trends of fintech industry

Trends

Digital lending
Rising ticket sizes and higher demand from Tier-II, III and IV markets, along with better risk
management and service-delivery models is being seen increasingly over the last few years

Cashless Economy
High growth expected toward digital payments (led by UPI) as India moves further towards a
‘Cashless’ economy.

Delivery of Wealth Management Services increasingly moving towards WealthTech

platforms
India currently has 440+ WealthTech start-ups providing personal finance management,
digital brokerage, financial research, robo advisors etc.

Government of India support toward innovation in the sector

Continuous efforts by the GoI through initiatives such as the Inter-Ministerial Steering
Committee (IMSC) on Fintech, Joint Working Groups on Fintech, GIFT City etc. to create
platform for growth and innovation in the sector.

Insurance Technology
Higher investments into the segment along with leveraging AI and ML to create customized
product segments is being seen increasingly over the last few years
Blockchain
Widespread adoption of blockchain technologies for a wide-range of purposes, including in
the BFSI and Healthcare segments. Additionally, marquee Indian developer and service
providers in the segment have emerged over the last few years – that have enabled a large
base of use-cases for these technologies.

Challenges
Fintech in various industries, especially banking and finance, primarily face three major
challenges that must be tackled at the earliest.
Cyber Security is one of the major concerns of Fintech industry. Many critics are skeptical
about the security of the confidential data. The digitization of the banking and finance sector
makes it susceptible to cyberattacks. Hence, the government and business firms must
collaborate to makes their systems robust enough to ward off any kind of exposure of
sensitive data.
Acceptance: Customers must be able to accept and trust the changing systems. Fintech
services are expected to override the traditional way of banking and financial services, which
remains a major challenge for consumers with conservative mindsets.
Lack of Human Touch: Chatbots and AI are expected to replace human contact. This could
prove to be a major hindrance in the growth of various sectors, applying fintech technology to
serve their customers. Therefore, the companies must work to retain human touch as they try
to meet customer needs and satisfaction. Sure, let's break down this challenge in simple terms
with an example.

Imagine you run a small grocery store in a remote village in India. You want to start
accepting digital payments from your customers because it's safer and more convenient than
handling cash. However, you face several challenges in fully integrating with digital
infrastructure:

1. Limited Access to Technology: You may not have access to high-speed internet or
smartphones needed to use digital payment apps like UPI (Unified Payments Interface).

2. Lack of Awareness: Even if you have access to technology, you and your customers might
not be aware of how digital payments work or the benefits they offer.
3. Cost of Adoption: Setting up digital payment systems may require investing in new
equipment or software, which could be expensive for a small business with limited resources.

4. Trust and Security Concerns: Both you and your customers may be hesitant to trust digital
payment systems due to concerns about security and fraud.

5. Language and Literacy Barriers: Digital payment apps often require reading and
understanding instructions in English or other languages, which could be challenging for
individuals with low literacy levels or who speak regional languages.

Despite these challenges, there are opportunities for entrepreneurs and innovators to address
these gaps. For example:

- Developing Simplified Solutions: Entrepreneurs can create user-friendly digital payment

solutions specifically tailored to the needs and capabilities of small businesses and
underserved communities. These solutions could have simplified interfaces, support multiple
languages, and provide step-by-step guidance.

- Providing Education and Training: Initiatives can be launched to educate small business
owners and customers about the benefits and usage of digital payments. Training programs
can be organized to teach people how to use digital payment apps effectively and securely.

- Improving Accessibility: Innovators can work on expanding access to technology and

internet connectivity in remote areas, making it easier for small businesses and underserved
communities to adopt digital infrastructure.

Overall, while integrating with digital infrastructure poses challenges for small businesses
and underserved communities, there are ample opportunities for entrepreneurs and innovators
to innovate and bridge these gaps, ultimately contributing to greater financial inclusion and
empowerment.

Future of fintech industry in india

very little time, India has become one of the leading nations in Fintech innovation. The
financial technology is reforming the lives of Indian citizens and is a step forward to the
creation of digital economy. In the era of “Digital India,” the Fintech companies are bound to
find several opportunities to capitalize. The Government of India has recently taken an
initiative called the ‘Jan Dhan Yojana’ scheme aims to open a bank account for every citizen.
In addition to that, in an attempt to popularize cashless transactions, the government has
offered tax rebates to traders that accept more than 50% of payment in through electronic
payment system. The digitization of banks will make fintech technology the future of banking
and financial sectors of India.

Research gap

previous studies on fintech adoption mainly looked at how technology and money affect
people's choices. However, they missed considering how our society and culture influence
these decisions. This study wants to make up for that by looking into how things like culture,
traditions, and social norms affect whether people use fintech or not. By understanding this
better, we can come up with better plans for making fintech work for everyone in our
changing world.

fintech adoption because they shape individuals' trust and comfort levels with new
technologies; for instance, in societies where cash transactions are culturally favored and
trusted, people may be slower to adopt digital payment apps despite their convenience and
benefits.

Data Analsysis
What Factors Influenced Your Decision to Adopt Fintech services rate it

User Friendly Interface And Easy To Use

The majority of users (65%) either strongly disagree or disagree with the statement about the
user interface's friendliness, indicating dissatisfaction. Additionally, a significant portion
(20%) express a neutral stance, suggesting potential areas for improvement. These findings
highlight the need to address shortcomings in the interface design to enhance user satisfaction
and experience.
Recommendations From Friends Or Family
The majority of users (47%) either agree or strongly agree that recommendations from
friends or family influence their financial service decisions, suggesting significant influence.
However, a sizable portion (41%) remain neutral, indicating a need for further understanding
of the impact of these recommendations. Overall, the data highlights both the importance and
the ambiguity surrounding the influence of interpersonal recommendations on users' financial
choices.
Cost Effectiveness
The majority of users (56%) either agree or strongly agree that the financial service is cost-
effective, indicating a positive perception. However, a substantial portion (28%) remain
neutral, suggesting uncertainty or a need for further clarification regarding the service's cost-
effectiveness. Overall, the data reveals a favorable perception of cost-effectiveness among
users but also highlights the presence of skepticism or indecision among some.
Innovation Features
The majority of users (68%) either agree or strongly agree that the financial service offers
innovative features, indicating a positive perception. However, a notable portion (18%)
remain neutral, suggesting uncertainty or a need for further clarification regarding the
service's innovation. Overall, the data reveals a favorable perception of innovation among
users but also highlights the presence of skepticism or indecision among some.
Security Feature
The data indicates that most users (68%) either agree or strongly agree that the financial
service provides robust security features, reflecting a positive perception. However, a
considerable portion (21%) remain neutral, implying uncertainty or a need for further
reassurance regarding the service's security measures. Overall, while there's a prevalent belief
in the security of the financial service, some users exhibit skepticism or indecision.
Convenience In Transactions
The data illustrates that most users (67%) either agree or strongly agree that the financial
service provides convenient transactions, reflecting a positive perception. However, a notable
portion (24%) remain neutral, indicating uncertainty or a need for further assessment
regarding the service's convenience level. Overall, while there's widespread belief in the
convenience of the financial service, some users exhibit reservations or indecision.
Accessibility 24/7
Most users (77%) either agree or strongly agree that the financial service is accessible 24/7,
indicating a positive perception of accessibility.. However, a substantial portion (14%) remain
neutral, suggesting uncertainty or a need for further clarification. Overall, while there's
widespread belief in the accessibility of the financial service, some users exhibit reservations
or indecision.

Trust In Brand
The majority of users (80%) either agree or strongly agree that the brand associated with the
financial service is trustworthy, indicating a positive perception. However, a significant
portion (15%) remain neutral, suggesting uncertainty or a need for further reassurance.
Overall, while there's a prevalent belief in the brand's trustworthiness, some users exhibit
reservations or indecision.
Promotion or special offer
The majority of users (85%) either agree or strongly agree that promotions or special offers
associated with the financial service are perceived positively, indicating a favorable view.
However, a notable portion (10%) remain neutral, suggesting uncertainty or a need for further
assessment regarding the impact of promotions.Overall, while there's widespread acceptance
of promotions, some users exhibit reservations or indecision about their influence.

Recommendation Friends Family Consideration

A significant portion of users (70%) highly consider or consider recommendations from
friends or family when deciding on financial services, showcasing the influence of personal
networks.The presence of varying degrees of consideration, from moderate to low, suggests
different levels of trust or reliance on these recommendations among users. The data
underscores the importance of trust and confidence in personal relationships, highlighting
how word-of-mouth recommendations shape users' perceptions and decisions in the financial
services realm.

Easy Of Use Importance

A significant majority of users (77%) prioritize ease of use when considering financial
services, with the highest percentage strongly agreeing with its importance. Varying degrees
of agreement, from neutral to disagreement, suggest differing priorities or perceptions
regarding the significance of ease of use among users.The data highlights how user-friendly
interfaces and seamless experiences are crucial factors influencing users' decision-making
processes, shaping their preferences in the financial services landscape.
Users who disagree on the importance of ease of use in fintech services may prioritize other
factors like advanced features or security over user-friendliness.They might perceive ease of
use as less crucial compared to factors such as reliability or the range of services offered by
the fintech platform.Some users may have prior experiences with complex systems that they
found manageable, leading them to de-emphasize the significance of ease of use in their
decision-making process.

Satisfaction Overall Fintech Service

The data indicates a diverse range of satisfaction levels among users of fintech services, with
a notable portion expressing high satisfaction as well as lower levels of satisfaction.Varied
responses, including neutrality, reflect the complexity of meeting diverse user needs and
expectations within the fintech landscape.. Fintech providers have an opportunity to improve
user experiences by tailoring services to individual preferences, addressing the diverse range
of sentiments expressed by users.

Loyalty To Fintech Service Provider

The data reveals a significant portion of users (64%) demonstrating high levels of loyalty to
the fintech service provider, with the majority falling into the categories of "Very Loyal" and
"Extremely Loyal." There's a notable trend of increasing loyalty from lower to higher tiers,
suggesting the provider's success in cultivating strong customer relationships over time. This
emphasizes the importance of customer loyalty in the fintech industry and highlights the
provider's effective strategies in maintaining satisfaction and commitment among its user
base.

Trust Level Fintech

1. The data shows that a significant majority of users (61%) have a positive perception of the
fintech service, with the largest proportion expressing strong trust.. However, a notable
percentage of users (26%) remain undecided or ambivalent about their level of trust,
indicating room for improvement in building trust among this segment Overall, the presence
of strong trust among users is crucial for the success and sustainability of fintech platforms,
emphasizing the importance of maintaining positive perceptions and fostering
trustworthiness.
Challanges
Security Risk (116): This means there's a worry that the system or technology might not be
safe from hackers or unauthorized access. People are concerned about protecting their
information.

Regulatory Compliance (65): This refers to following the rules and regulations set by the
government or other authorities. Companies need to make sure they're obeying the law.

Consumer Privacy (90): People are worried about their personal information being kept safe
and not being misused by companies or others without their permission.

Lack Of Standardization (96): This means there's a problem because things aren't consistent
or standardized. It can make it hard for different systems or devices to work together
smoothly.

Overreliance On Data (79): This is when there's too much focus on collecting and using data,
sometimes without considering other important factors. It can lead to decisions being made
solely based on data without considering human factors or context.

Scalability Challenges (68): This is about how well a system or technology can grow and
handle more work or users. If it's not scalable, it might struggle as it gets bigger.

Competition And Market Saturation (72): This means there are a lot of companies offering
similar products or services, which can make it hard for any one company to stand out or
succeed.

Service Reliability (45): This refers to how dependable a service or technology is. If it's not
reliable, it might have a lot of downtime or errors, which can frustrate users.

Likely Explore Fintech Innovations

. A majority of users (73.77%) express openness to exploring fintech innovations, with nearly
half indicating they are most likely to do so, driven by interest in new technology and
improved financial services.. Conversely, a small percentage (10.76%) are least likely or
unlikely to explore fintech innovations, possibly due to concerns about security or
satisfaction with traditional services. The neutral stance of 16.45% of users may suggest a
need for more information or a lack of strong opinion, emphasizing the varying levels of
readiness to embrace fintech advancements among users. 1. Fintech users are likely to
explore adoption due to the appeal of new technology, offering innovative and convenient
financial solutions. They seek improved financial services, attracted by features like faster
transactions, lower fees, and better accessibility. Many are early adopters, embracing fintech
innovations to stay ahead and experience the benefits of emerging technologies in finance.
Statistical Description Common Example
Test/Concept
Chi-square A statistical test used to determine if Example: Testing whether
Test there is a significant association there is a relationship between
between two categorical variables. smoking habits (smoker/non-
smoker) and lung cancer
diagnosis (yes/no).
One-Way Analysis of Variance (ANOVA) is used Example: Comparing the
ANOVA to compare means between two or more average test scores of students
groups to determine if there are in three different teaching
statistically significant differences. methods (traditional lecture,
One-way ANOVA compares the means online module, interactive
across different groups for a single workshop).
independent variable.
Independent A statistical test used to compare the Example: Comparing the
Sample T-test means of two independent groups to average weight loss between
determine if there is a significant two different diet plans (Diet
difference between them. A vs. Diet B) among
participants.
One-Sample T- A statistical test used to compare the Example: Testing whether the
test mean of a sample to a known or average commute time of
hypothesized population mean to employees in a company is
determine if there is a significant significantly different from
difference. the national average commute
time of 30 minutes.
Regression A statistical technique used to analyze Example: Predicting the sales
Analysis the relationship between one dependent revenue of a product based on
variable and one or more independent advertising expenditure,
variables. It helps to predict the value pricing, and competitor's
of the dependent variable based on the pricing.
values of the independent variables.
Correlation A statistical measure that describes the Example: Examining the
strength and direction of a relationship correlation between the
between two continuous variables. It amount of rainfall and crop
does not imply causation but indicates yield to determine if there's a
how closely related the variables are. relationship between them.