IN THE LAST decade, India has witnessed an unprecedented surge in the use of technology to access financial services and products. It has revolutionised the way we bank, invest, and manage money.
Looking ahead into the new year, 2024 holds immense promise for the future of fintech. It marks the first step towards a five-year fintech agenda-a road map to transform financial services through innovation and inclusion.
The Indian fintech market is experiencing explosive growth, with some estimates projecting $1 trillion in throughput and $200 billion in revenue over the next few years.
This recent fintech surge is just the opening act of a transformative financial revolution. The digital rupee's arrival, democratised wealth management, and a complete reshaping of financial services are on the horizon. There are several key drivers that will fuel this next stage of growth.
Innovation as the Engine
At the heart of this revolution lies innovation. Fintech start-ups are disrupting traditional models, leveraging cutting-edge technologies like data analytics, machine learning, and artificial intelligence to personalise financial experiences. Data analytics, in particular, has emerged as the backbone of the fintech sector. Tools like AI-powered chatbots are also becoming increasingly popular. They act as virtual financial advisors, readily available 24/7 to offer customised guidance. These conversational interfaces analyse user data and financial behaviour, generating tailored recommendations.
This story is from the February 18, 2024 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 18, 2024 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
