The Indian financial industry is gaining popularity.

India is one of the world's fastest-growing FinTech markets, with over 2,100 FinTech startups operating in the country and receiving significant investment from international markets.

The Indian financial industry is gaining popularity.

The Indian FinTech Industry is Getting More Attention.

In addition to this, the government of India's actions, such as demonetization and the implementation of GST, have created a substantial growth opportunity for FinTech startups in the country.

India has a favorable demography of people below the age of 35 having an appetite for innovative technology in the financial sector.

FinTech innovation types:

The major areas of game-changing Financial institutions that have shown significant expansion in recent years are listed below. With ground-breaking innovations like paperless lending, mobile banking, secure payment gateways, mobile wallets, and other concepts that are already defining a new and digi-digitized India, India has emerged as one of the world's most robust FinTech economies.

Financial Inclusion:

The Indian FinTech startups' efforts in this direction have manifested in many ways, like innovative solutions around low-cost technology, strategic partnerships between incumbents and FinTechs, the launch of digital-only banks, and much more.

Financial inclusion startups aid in the development of revolutionary, innovative FinTech products that are affordable, accessible, and convenient for underserved customers.

Financial literacy:

Startups in the financial literacy field attempt to educate people to understand money through experience, from financial education to better sales. Understanding accounting jargon, creating financial accounts, creating and analysing cash flow statements, and ratio comparison are a few areas where FinTech businesses are excelling.

Insurance:

The development of Fintech companies in the insurance sector aims to alter consumer behaviour and bring in cutting-edge technologies to destroy the insurance sec

tor. Startups in the insuretech space have drawn significant interest from investors and have garnered a record amount of money, setting a trend.