Fintech Report 2020

The word Fintech is making rounds of news all around the world from the last few years. The curiosity surrounded by the word is
increasing at a rapid pace, and so is its influence in the finance industry. The concept of Fintech practises delivering financial services
using technology with the aim to improve and automate the process. Fintech includes every activity that delivers financial services
through technology platforms. Fintech aims to compete traditional processes of banking and financial operations with a focus on
improving efficiency on multiple fronts and a reduction in operational costs. It helps to improve the utilization and delivery of financial
services.

Adoptability of Fintech
Global Adoptability Rate of Fintech

Investment in Fintech

The investment in the Fintech sector has been on rapid growth. The investment in Fintech had a modest start from an investment of 930 million dollars in the year 2008. According to statistics, more than 350 billion dollars are invested in this sector for the period of 2013-2018. The investment in Fintech in 2018 crossed the figure of 100 billion US dollars. The global digital payment alone is projected to touch the mark of 10 trillion US dollars cap by 2026.

Types of Fintech Business

B2B (Business to Business) Model

Fintech is helping the consumers to avail of financial services on different fronts. The business entities which were subjected to a complex loan or credit application process can now take easy financial aids using Fintech. The coming of age concept of Fintech is helping business houses to get loans using mobile technology or web-based platforms in easy steps. The development is highly beneficial, especially for small and medium scale industries.

B2C (Business to Customer)

Fintech is benefiting a large number of consumers with different credit needs. Fintech is helping people to raise credit and consuming a plethora of financial services with convenience. Hyper personalization and superior
quality of services providers ensures the prominence of Fintech over to their traditional counterparts. The prominent consumer services are money transfer facility, budgeting apps, easy credit facility, operate lending, and financial activities in their peer group.