You may not have heard about Indian startups, especially financial startups, as much as you might have heard about PayPal, Skrill, Revolut, or Robinhood. Yet, the Indiana fintech market is thriving and is carried on the shoulders of extremely talented and similarly ambitious people of all backgrounds and ethnic backgrounds.
India has been building a veritable fintech revolution that has allowed the country to rapidly adopt payment solutions that allow it to move money quickly and easily in and out of bank accounts and across the ecosystem it has created. You could think about fintech services as playing roulette – not because they are unpredictable, but because they follow very specific and immutable rules that create safety and security.
Let’s dive into some of the good examples of how India’s startup scene, especially in the fintech sector, has brought around interesting opportunities.
Creating the basis for financial inclusion
It is true. India’s thriving startup sector and its focus on fintech solutions have not been self-serving. Quite the opposite, as a matter of fact. The country has focused on creating a unifying experience for its consumers, allowing everyone to bank and experience financial and banking services on their own terms.
Banking and budgeting are quite crucial, as noted by Roulette77, a website that focuses on roulette, but draws parallels between a good game strategy and having a robust financial knowledge about things such as managing your money wisely.
It does not matter how much money you have in cash. The fintech solutions allow you to make use of it all and place digital purchases, save up, and even incur a small interest on your savings, bringing even more opportunities for the future. India’s fintech sector is indeed focused on creating value for consumers, which is what sets it apart. Here are several ways how it has succeeded:
| Inclusivity | More and more people in India have access to financial services |
| Lack of pressure on consumers | Forget accounts that charge you for simply holding your money there |
| Real-time trusted payments | The country’s Unified Payment Interface has made it so that you can trust the payments you place as an Indian consumer |
Personal finance and wealth management next
Not only are Indians becoming aware that they can muster their funds in fee-free accounts online, thanks to startup solutions and apps, but they are also finding out more about their personal finance and wealth management. Being successful at managing your finances means that you understand the financial system but also that you feel comfortable thinking about money in a certain way.
Thanks to India’s startup sector, many people are now beginning to ask themselves important questions about their personal finances. Startups make it easier to ask these questions. For example, people often want to know stuff such as:
- How much do I spend on food & bills?
- What is my disposable income?
- How much should I save up?
- How much should I invest, and into what?
Thanks to the thriving startup sector, people now have these answers and many more. You will find yourself going through these with the expert help offered by startup companies that focus on personal finance.
They allow you to track investments and set up alerts about how much you should be saving up, what to invest and where, and whether you are on track to meet your monthly budget goal.
There are plenty of things to really do, and as such, you will find the innovation brought on by fintech companies in India to be truly worthwhile, no matter whether you are just a consumer or retail investor or someone who takes their investment portfolio a little more seriously.
Not least, there is another very important factor – fintech is actually a driver of economic growth and prosperity in India. So, beyond the good that emanates from the sector, fintech is also boosting the economy by a considerable margin.
India’s fintech sector is a winner
This is very true. India’s fintech companies have grown exponentially to the point they provide players with truly worthwhile and welcome solutions. The fact is that Indians crave to be financially independent, and traditional banks can often feel a little old-fashioned or even too expensive. They charge fees for consultations and generally make it so that it is not easy to figure out what products offer and how much you stand to gain.
In contrast, fintech companies make simplicity their rallying cry under which all consumers gather and are glad to participate. All in all, there is a distinct value in what the fintech sector in India creates, and there really is no chance that many people are opting for these clever designs. The startup sector is truly changing how finance works in India – we should not be surprised.
