Fintech - A Game Changer

From the way we consume information, to the way we order our daily essentials, as we wind down 2022 and look forward to the dawn of another new year in 2023...it is a foregone conclusion that the advent of technology has completely changed the world.

- HARSHVARDHAN LUNIA

The finance industry, long considered as the old guard of capitalism and confined to a brick-and-mortar-focused ecosystem, has seen many a revolution. But, before you start pointing out to the post-pandemic new normal as when it all began (you couldn't be further from the truth!), it all started after the 2008 economic crisis. That was a defining period when traditional banks had no choice but to pause and reconsider their ageing processes. It also created an opportunity for FinTech companies - an opportunity to evolve, disrupt and start competing specifically with the financial institutions, and then continue to evolve, as seen in recent years, to work with them forming a collaborative ecosystem. The post-pandemic world, however, completely changed the game. While most of the Digital platforms which were designed, created, and nurtured for the top 1% - today the potential adoption in tier 2, tier 3, and rural clusters is a much bigger game.