https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Financial_technology_in_IndiaFinancial technology in India - Revision history2026-09-06T07:06:58ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Financial_technology_in_India&diff=319161&oldid=prevUpdateBot: robot: Update article (please report if you notice any mistake or error in this edit)2022-06-22T23:08:21Z<p>robot: Update article (please <a href="/wiki/User_talk:UpdateBot" title="User talk:UpdateBot">report</a> if you notice any mistake or error in this edit)</p>
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<p><b>New page</b></p><div>{{Short description|Financial technology in India}}<br />
{{Essay-like|date=December 2016}}<br />
[[Financial technology]] (also called FinTech) has emerged as a relatively new industry in [[India]].<ref>{{cite news | url=http://economictimes.indiatimes.com/jobs/fintech-sector-proving-to-be-talent-magnet/articleshow/51986723.cms | title=Fintech sector proving to be talent magnet | publisher=[[The Economic Times]] | date=26 April 2016 | access-date=22 May 2016}}</ref> FinTech is an industry comprising companies that use technology to offer financial services. These companies operate in [[insurance]], [[asset management]] and [[payment]], and numerous other industries.<ref>{{cite web | url=http://www.siliconindia.com/news/business/FinTech-Gaining-Momentum-in-India-with-Paytms-Payment-Banks-nid-194947-cid-3.html | title=FinTech Gaining Momentum in India with Paytm's Payment Banks | date=2 May 2016 | access-date=22 May 2016}}</ref><br />
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==Market size and growth==<br />
The Nasscom ([[NASSCOM]])-KPMG ([[KPMG]]) report estimates that the total fintech software and services market in India was around $8 billion in 2016 and likely to grow 1.7 times by 2020. The report adds that the transaction value for the Indian fintech sector was approximately $33 billion in 2016 and slated to reach $73 billion in 2020 growing at a five-year compound annual growth rate (CAGR) of 22%.<ref name=FE>{{cite news | url=http://knowledge.wharton.upenn.edu/article/whats-driving-indias-fintech-boom/ | title=What's Driving India's Fintech Boom? | publisher=[[Wharton School of the University of Pennsylvania]] | date=11 Feb 2018 | access-date=11 Mar 2019}}</ref><br />
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The Indian FinTech landscape is segmented as follows: 34% in payment processing, followed by 32% in banking and 12% in the trading, public and private markets.<ref>{{cite news | url=http://www.zdnet.com/article/india-emerging-as-fastest-growing-market-for-fintech-software-products/ | title=India emerging as fastest-growing market for fintech software products | publisher=[[ZDNet]] | date=3 May 2016 | access-date=22 May 2016}}</ref> [[Seed accelerator|Accelerators]] and [[business incubator|incubators]] tapping the [[startup ecosystem]] include [[PayPal]]’s Star Tank, [[Yes Bank]]’s collaboration with [[T-Hub]], among others.<ref>{{cite news | url=http://www.business-standard.com/article/companies/india-emerging-a-hub-for-fintech-start-ups-116051700397_1.html | title=India emerging a hub for fintech start-ups | publisher=[[Business Standard]] | date=18 May 2016 | access-date=23 May 2016}}</ref> [[Visakhapatnam]] (Vizag) is being developed as FinTech valley and the local government of Andhra Pradesh opened [[Fintech Valley Vizag|Fintech Valley]] to promote the investments in this area.<ref>{{Cite web|url=http://fintechvalleyvizag.com/|title=Fintech Valley Vizag|website=fintechvalleyvizag.com|access-date=2017-02-02}}</ref><br />
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Finvasia is a fintech started by Indian former Wall Street investors and relocated its headquarters to India.<ref>{{Cite web|last=D'souza|first=Vanita|date=2017-09-15|title=These Brothers are using AI to Kill the Brokerage Model in Capital Market|url=https://www.entrepreneur.com/article/300410|access-date=2020-12-07|website=Entrepreneur|language=en}}</ref><br />
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==References==<br />
{{reflist}}<br />
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{{FinTech in India}}<br />
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[[Category:Mobile payments in India]]<br />
[[Category:Online banking]]<br />
[[Category:Insurance in India]]<br />
[[Category:Technology in society]]</div>>Bop34