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How the digitisation drive in BFSI is fuelling growth in India’s fintech ecosystem

Fintech in India is thriving on massive untapped markets, easy access to capital, and rising customer expectation of getting an Uber-like experience from financial services. In 2019, India surpassed China in fintech investments for the first time and became the third-highest funded country only behind the US and the UK, according to MEDICI’s India FinTech Report 2020.
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4 Aug 2020 4 Mins Read 0 comment
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By MEDICI Global India’s fintech ecosystem continues to grow overall even as the Covid-19 crisis throws a curveball at the economy and businesses. There are many reasons for this growth, but the main one is that lockdowns and work from home meant that the digitisation drive in banking, financial services, and insurance (BFSI) went from discretionary to mandatory.
across all demographics in the country, the push for digital payments, and banks’ efforts towards digital transformation have fuelled fintech’s growth in the past couple of years. (Disclaimer: This article was originally published on MEDICI Global and has been republished as part of an editorial partnership for fintech insights.) ( Graphics by Abdul Shafiq)
By MEDICI Global India’s fintech ecosystem continues to grow overall even as the Covid-19 crisis throws a curveball at the economy and businesses. There are many reasons for this growth, but the main one is that lockdowns and work from home meant that the digitisation drive in banking, financial services, and insurance (BFSI) went from discretionary to mandatory. across all demographics in the country, the push for digital payments, and banks’ efforts towards digital transformation have fuelled fintech’s growth in the past couple of years. (Disclaimer: This article was originally published on MEDICI Global and has been republished as part of an editorial partnership for fintech insights.) ( Graphics by Abdul Shafiq)

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