The Indian Fintech market is currently the world’s third-largest Fintech ecosystem, behind only the United States and China. India has 6,636 Fintech startups, making it one of the fastest-growing Fintech markets. The Indian Fintech business was worth $31 billion (INR 3100 crore) in 2021 and is expected to be $150 billion (INR 15000 crore) by […]
Trends Influencing the Future of Indian Fintech in 2022 and Beyond
Fintech is at a fascinating stage as it has reshaped how we view finances. What’s impressive is that fintech companies’ innovation has compelled the government to change its reforms. This is a disruption in action. The finance industry is no longer restricted to financial solutions; it has rather evolved with technology-backed solutions that make financial […]
5 Tried and Tested Loan Recovery Techniques
One of the most challenging parts of the lending business is loan recovery techniques. Even though international norms have been put in place to help lending institutions recover their money, these techniques essentially do not work or take a painfully long time in practice. There is an existing culture of non-repayment, which results in liquidity […]
How Has Fintech Aided the Development of Open Fintech Ecosystems
Fintech arose in response to the global financial crisis and now holds a significant position in the financial services sector. The global Fintech business is expected to increase by 24.8 per cent to $309.98 billion in 2022, from $127.66 billion in 2018. They have indeed disrupted financial services and also contributed to the rise of […]
Bad Debt Recovery Strategies: Reduce Risks and Improve Collections
Vijay Mallya, Anil Ambani, Pramod Mittal, Nirav Modi—something strikes, doesn’t it? Whilst most of you are familiar with these names, some of you might also be aware of their not-so-happily-ever-after entrepreneurial journey; who were once “Business Tycoons” are now on the list of notorious bankrupts. As much as their lavish lifestyle sparked our interest, when […]
Know the Difference Between Credit Bureau and Credit Rating Agency
Credit bureaus and credit rating agencies are easily confused, especially because credit bureaus are also referred to as “credit reporting agencies.” Credit bureaus, such as Equifax, Trans Union CIBIL, and Experian are agencies that give information about an individual’s creditworthiness. They provide credit reports and credit ratings to creditors, such as banks, to assist them […]