India has one of the world’s fastest-growing economies. Furthermore, FinTech has transformed people’s life in this country. Financial technology, or fintech, is described as any invention that makes it easier for people to manage their financial. As a result, in addition to traditional banking competence, India requires personnel with blockchain and cloud computing skills.
Fintech is famous for having a global impact; it is not limited to India, but has moved to China, Europe, North America, and other countries. As a result, it is currently one of the most profitable industries.
Fintech usage climbed by 64% globally in 2019, while it increased by 87 percent in developing countries. The expansion of electronic payments is aided by a variety of stakeholders. Additionally, the usage of AI, blockchain, and IoT, as well as the introduction of POS devices, will continue to boost the economy. Because leading Indian banks conduct 80 percent of their business through digital channels, remittance programmes have a lot of room to grow.
During the projection period, India’s fintech industry is expected to increase at a CAGR of 12 percent.
Many Fintech start-ups have sprung up in India. Another way government programmes might affect consumer behaviour is to encourage consumers to migrate to better digital alternatives.
The fintech market in India is expected to grow at a CAGR of 12% during the forecast period.
India has become a hub for many Fintech start-ups. Getting the consumers to switch to better digital alternatives is another way government initiatives can influence consumer behavior.
Some trends in the market:
Increased Mobile Banking Payments
Digital payments are growing rapidly. There are a number of factors that are contributing to the exponential growth of the digital payments sector, such as convenience to pay, the rise of non-banking payment institutions, progressive regulatory policies, etc.
Fintech Deals in Indian Startups Have Increased:
There were 23 agreements in the second quarter of 2019 in the United States, and 15 deals in China. In 2019, a total of USD 657 million was invested in B2B fintech firms, eclipsing the USD 617 million invested in B2C fintech startups. The number of Fintech deals in India has increased since then.
The following are some of the reasons why you should enrol in Fintech Certification Courses as soon as possible:
Experts are in greater demand in technology fields such as blockchain and cloud computing to assure talent availability.
Imarticus Learning’s Fintech Certification programmes and MBA in Fintech assist students achieve their career goals.
The MBA in FinTech programmes cooperate with top industry leaders to provide comprehensive programmes that cover every paradigm of cutting-edge New Age FinTech solutions. Students are also exposed to important FinTech components as part of the curriculum.
Forbes lists Fintech Certification as one of the Top Career Options.
Competitive Landscape:
The Fintech market in India is fragmented due to the increase in start-ups. Global investors are actively participating in the market and challenging established players.
Due to this immense scope, Fintech offers a wide range of employment opportunities.
The following are some of the reasons why you should enrol in Fintech Certification Courses as soon as possible:
Experts are in greater demand in technology fields such as blockchain and cloud computing to assure talent availability.
Imarticus Learning’s Fintech Certification programmes and MBA in Fintech assist students achieve their career goals.
The MBA in FinTech programmes cooperate with top industry leaders to provide comprehensive programmes that cover every paradigm of cutting-edge New Age FinTech solutions. Students are also exposed to important FinTech components as part of the curriculum.
Forbes lists Fintech Certification as one of the Top Career Options.
Read also: As a global engine of growth, India will make a significant contribution