We tend to overestimate the effect of a technology in the short run and underestimate its effect in the long run,” wrote Roy Amara, the noted futurist. Fintech lending began to emerge in India around 2014, and soon mushroomed into a rapidly expanding ecosystem. Within the last five years, well-funded startups, banks, and big tech companies have all staked their claim to the fintech mantle with a plethora of products, partnerships, and apps. However, while this has created pivotal moments of innovation and disruption, some would also argue that the scale of fintech lending today is still small, relative to the overall market. Regulatory and infrastructure enablers remain a work in progress, and new-age risk and liquidity models are only now being truly tested by the economic slowdown.
These are valid observations. But what is missed is the extent to which the rise of fintech has catalysed broader changes in the economy. These are now beginning to accelerate. It was under similar conditions post the 2008 financial crisis, both in the US and in China, that fintech truly took off. We believe that India is poised at a similar inflection point, and here are five predictions of how that will unfold:
Denne historien er fra January 17, 2020-utgaven av Forbes India.
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Denne historien er fra January 17, 2020-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Home-Cooked Meal Is Now Greatly Valued
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Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
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PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
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DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
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