The technological revolution has impacted every corner of the globe, and India is no exception. India has emerged as a lucrative market for fintech and lending business ventures due to its population base of 1.3 billion, an evolving economy, and a desire to experience digital solutions.
The fintech adoption rate in India is 87%. It’s higher than the global average of 64%. The fintech market in India is fuelled by a tech-savvy youth population, with 75% of India’s population under the age of 45.
Enterslice has supported the dreams of several aspiring fintech entrepreneurs and key players in a diverse range of industries. The brand has helped several entrepreneurs around the world in overcoming the challenges of regulatory compliance and streamlining business operations. Let’s dive into the world of Indian fintech and lending landscape and opportunities for lending in rural areas.
Take a Look at the Indian Fintech and Lending Landscape
All those who are set to enter into the fintech segment of India must be aware of the growth opportunities and potential that this segment holds for the future course of time. Today, the fintech market in India is one of the rapidly thriving sectors in the world. There are endless possibilities for those who are entering into fintech and lending landscape. Let’s uncover the significant reasons behind this exciting growth prospects-
Consumer Lending- Fintech firms play a crucial role in consumer lending. They are immersed in leveraging alternative data sources as well as advanced analytics to provide loans to different individuals with varied credit records. Buy-now-pay-later services, personal loans, and credit scoring innovations are climbing the ladder of popularity with each passing day.
Peer-to-peer(P2P) Lending- With an increase in the number of digital financial transactions, P2P Lending platforms are getting recognition among the masses for their speed, ease of use, and convenience.