Emerging technologies have reshaped the financial services industry through innovative means to cater to evolving customer expectations of personalisation and convenience. FinTech has evolved as one of the most innovative and cost-effective disruptive technologies. Early adaptation of FinTech solutions has enabled several start-ups, financial service providers and other diverse sectors to achieve an accelerated pace of growth.
Over the last several years, the Indian FinTech market has been on a growth trajectory, as is evident from an increase in both the number of FinTech companies founded and the investments they has attracted. From January 2013 to October 2018, a total of 1994 FinTech companies have been founded, turning into a hotbed of entrepreneurial activity. With a strong tech ecosystem as its backbone and a huge market base coupled with the growth of formal Financial Services (FS), the Indian FinTech market offers immense potential.