{"id":26280,"date":"2019-11-03T10:30:01","date_gmt":"2019-11-03T05:00:01","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=26280"},"modified":"2019-11-04T11:11:11","modified_gmt":"2019-11-04T05:41:11","slug":"types-and-state-of-fintech-companies-in-india","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/types-and-state-of-fintech-companies-in-india\/","title":{"rendered":"Read About the Types & State of Fintech Companies in India"},"content":{"rendered":"

Fintech\ncompanies in India are making rounds of news from the last few years. The\ncuriosity surrounded by the word is increasing at a rapid pace, and so is its\ninfluence in the finance industry. The concept of Fintech practices delivering\nfinancial services using technology with the aim to improve and automate the\nprocess. Fintech includes every activity that delivers financial services\nthrough technology platforms. Fintech aims to compete with traditional processes\nof banking and financial operations with a focus on improving efficiency on\nmultiple fronts and a reduction in operational costs. It helps to improve the\nutilization and delivery of financial services. <\/p>\n\n\n\n

The arrival of Fintech has been celebrated in the financial world. It is helping financial institutions<\/a><\/strong>, business owners, companies, and consumers to manage their financial activities more efficiently. Fintech technology blends financial processes with specialized software and algorithms. These platforms can be accessed on a computer, smartphone, and other smart devices. Fintech has helped emerging business entities to disrupt the financial industry because of their adaptability to prevailing situations and agility to be flexible while serving the last mile needs of the consumer. There are certain sectors that are having exponential growth than the rest. Let us read about the types of fintech companies in India.<\/p>\n\n\n\n

Types of Fintech Companies in India<\/h2>\n\n\n\n
\"Types<\/figure><\/div>\n\n\n\n

Digital \/Mobile Payments <\/h3>\n\n\n\n

These payment options provide access to make digital payments and trade with banks, commercial companies, central banks, hedge funds, forex brokers, investment management funds, and investors<\/strong>[1]<\/a><\/sup>. According to reports, the global payments market<\/a> is estimated to be 1 trillion US dollars.<\/p>\n\n\n\n

Insurance <\/h3>\n\n\n\n

Fintech has disrupted the majority of\nservices in the financial industry, and insurance is no exception. The\nso-called “Insurtech” industry is attracting a hefty investment from\nventure capitalists all around the world.<\/p>\n\n\n\n

Crowdfunding<\/h3>\n\n\n\n

Crowdfunding platforms allow entities to\nraise money from internet or app-based users for their business\noperations.  Fintech service allows the\nindividual business owner or established entities to pool funds from different\nresources from one platform.<\/p>\n\n\n\n

Digital lending \/P2P\nLending <\/h3>\n\n\n\n

The digital lending sector is considered as the most progressive arm of the Fintech revolution. The consumers can now get loans and advances using their smartphones. The lengthy procedure has been reduced to a matter of a few clicks. The consumers can get easy loans for whatever amount they desire, ranging from ticket loans of meaner amounts to capital loans of higher amounts. The global market for P2P lending<\/a><\/strong> is expected to grow at a CAGR of 60 percent to USD 1 trillion by 2025 from USD 9 billion in 2014.<\/p>\n\n\n\n

Stock trading apps<\/h3>\n\n\n\n

Stock trading apps are platforms that enable the user to buy or sell stocks at the tap of their fingertips. Thus, reducing the complexity and time taking procedure of buying or selling stocks into a process of few taps of their finger. <\/p>\n\n\n\n

Robo Advisors <\/h3>\n\n\n\n

The Robo Advisor segment of Fintech is a\nconfluence of AI and Financial concepts. It is a wealth management program that\nuses AI to function. It advises consumers to manage their wealth in the most\nprofitable manner. This segment is estimated to manage assets worth 5 Trillion\nUS dollars by 2025.<\/p>\n\n\n\n

Budgeting Apps<\/h3>\n\n\n\n

Budgeting apps help the consumer to keep a record of their financials. The coming of age apps is strengthening by the technological ability not only to keep track of resources but also get valuable alerts and advises on their spending patterns.<\/p>\n\n\n\n

The Beginning of Fintech Industry in India<\/h2>\n\n\n\n

Fintech\ninitially, was attributed to the computer technology used to perform back end\nprocesses of established banks and financial institutions. However, gradual changes\nin technology and the rapid rate of innovation in Fintech changed the landscape\nfor this concept. Interestingly the technology has now grown into multiple\narrays of financial services and triumphing in both commercial and personal\nfinance domains. Fintech is now predominantly taken into usage in different\nsectors, such as retail banking, fundraising, investment management, insurance,\netc.  A plethora of application snow\navailable for the users offering a range of utilities by harnessing the power\nof Fintech. Commonly used applications perform a function such as funds\nmanagement, stock trading, selling and buying of financial instruments, etc.<\/p>\n\n\n\n

The State of Fintech Companies in India<\/h2>\n\n\n\n

Fintech\nnot only helps to deliver financial service with geographical restrictions but\nalso helps in the formulation of customer-centric policy based on data-driven\ninsights collected from Fintech platforms. This data helps Fintech entities to\noptimize their service operations, policy development, and offer greater utility\nto consumers. The success of Fintech can be proved by the fact that at present,\nthere are over 39 unicorns with valuation over 147 billion US dollars worldwide.\nThe rapidly growingly Fintech fraternity now stands at 120000+ strong startups\nnetwork.<\/p>\n\n\n\n

India has emerged as the\nfastest-growing major economy in the world and an attractive investment hub.\nThe achievement has emerged as a result of constructive economic reforms and a\ngrowing customer base. The highly prospering financial sectors bloom a positive\nscenario for upcoming Fintech players in India. The growth projection is based\non progressive infrastructural reforms and proactive government policies. <\/p>\n\n\n\n

Investment in\nFintech Companies in India<\/h2>\n\n\n\n

Domestic and foreign investment is on\ngrowth in Indian financial markets along with other sectors. The economy\nreceived an equity inflow of 436.35 billion US dollars through Foreign Direct\nInvestments for the period of April 2000 to June 2019. Apart from that, the\nForeign Portfolio Investment has stood 184 billion US dollars for the period of\nApril 2002 to March 2019. Talking of Fintech, the digital payment segment is\ncurrently clocking a turnover of 64 billion US dollars. The segment is\nprojected to reach a turnover of 135.2 billion US dollars by 2023. <\/p>\n\n\n\n

Also, Read:<\/b> Impact of Financial Technology Companies on Indian Economy<\/a><\/mark>.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Fintech companies in India are making rounds of news 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 practices delivering financial services using technology with the aim to improve and automate the process. Fintech […]<\/p>\n","protected":false},"author":14,"featured_media":26285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11,1314],"tags":[],"acf":{"service_id":"230"},"yoast_head":"\nRead About the Types and State of Fintech Companies in India<\/title>\n<meta name=\"description\" content=\"Fintech companies in India are having exponential growth and luring massive investments from investors. Read Types and State of Fintech Companies in India.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/types-and-state-of-fintech-companies-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Read About the Types and State of Fintech Companies in India\" \/>\n<meta property=\"og:description\" content=\"Fintech companies in India are having exponential growth and luring massive investments from investors. Read Types and State of Fintech Companies in India.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/types-and-state-of-fintech-companies-in-india\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-03T05:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-04T05:41:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/11\/Fintech-companies-in-India.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Akash Dubey","authorImageUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/04\/DSC_04891.jpg","authorDescription":"Akash Dubey is a Law Graduate and works as an\r\nAdvisor at Enterslice. He is proficient in Legal\r\nand Financial Advisory. His expertise in the\r\nskills of Legal and Financial Research is an aid\r\nto his strengths as an Advisor.","postViews":602,"readingTime":4,"nextPost":{"id":26308,"slug":"gst-not-to-be-levied-on-premium-recovered-via-mediclaim"},"prevPost":{"id":26273,"slug":"registration-satisfaction-of-charge-under-the-companies-act-2013"},"featuredMediaUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2019\/11\/Fintech-companies-in-India.jpg","postTerms":"CFO Service","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/26280"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=26280"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/26280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/26285"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=26280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/categories?post=26280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/tags?post=26280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}