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Fin Tech

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Kanika Mann
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9 views

Fin Tech

Uploaded by

Kanika Mann
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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FINTECH -

MEANING
• Fintech, a clipped compound of
"financial technology", refers to
firms using new technology to
compete with traditional financial
methods in the delivery of financial
services.[3][4][5]
• The use of smartphones for mobile
banking, investing, borrowing service
s,[6] and cryptocurrency are
examples of technologies designed to
make financial services more
accessible to the general public.
• Fintech companies consist of
both startups and established
financial institutions and technology
companies trying to replace or
enhance the usage of financial
services provided by existing
financial companies.
BENEFITS OF FINTECH
Enhanced Accessibility: Fintech platforms break down traditional barriers to financial services, providing access
to banking and investment opportunities for previously underserved or excluded individuals.

Cost Savings: Fintech solutions often offer lower fees and competitive rates compared to traditional financial
institutions, resulting in more affordable banking and investment options for consumers.

Streamlined Financial Management: Fintech tools empower consumers with powerful tools to manage their
finances more efficiently, from budgeting apps that track expenses to robo-advisors that automate investment
strategies.

Personalized Financial Services: Fintech companies leverage data analytics and artificial intelligence to deliver
personalized financial services tailored to individual needs and preferences, enhancing the overall customer
experience.

Innovative Payment Solutions: Fintech has revolutionized the way consumers transact, offering innovative
payment solutions that are faster, more convenient, and more secure than ever before. These solutions simplify
transactions and enhance security .
USES OF FINTECH IN
DIFFERENT INDUSTRIES
• India - A Global FinTech Superpower
• India is amongst the fastest growing Fintech markets in the world.
Indian FinTech industry’s market size is $584 Bn in 2022 and is
estimated at ~$1.5 Tn by 2025.
• The Indian Fintech industry’s Total Addressable Market is estimated to
be $1.3 Tn by 2025 and Assets Under Management & Revenue to be
$1 Tn and $200 Bn by 2030, respectively
• Major segments under Fintech include Payments, Digital Lending,
InsurTech, WealthTech

HIGHLIGHTS • 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
ON FINTECH 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 investors.
INDIAN GOVERNEMNT ON
FINTECH

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