From zero to inFinnity
The second wave of FinTech is on us. The initial wave was about the digitization of money, the second will be about the monetization of data.
FinTech will revolutionize the financing needs for SMES and MSMEs which form a backbone of the Indian economy. As these sectors are gradually brought into the formal economy, they can be significantly assisted through access to more diverse funding options, better cash flow, improved working capital management and more stable and secure funding.
The application of FinTech cuts across multiple business segments, including lending, advice, investment management, payments, there is a great opportunity to make a generational jump for India through the opportunities afforded by digitization of the economy.
Demonetization has hit the unorganized sector the most, as these are brought into the organized sector, there is a huge opportunity to back these sectors with funding. FinTech can identify the trust worthiness of these opportunities.