Recognized as a strong FinTech hub globally, India is already home to 6500+ fintech startups expected to reach $1 Tn in throughput and $200 Bn in revenue by 2030. The growth, scale, and well-functioning of the ecosystem can be credited to emerging technologies, surplus funding, favorable customer demographics and cultural trends, regulatory landscapes, and the availability of tech talent. Agri+FinTech and Prop+FinTech startups are also plugging in the gaps of these largely untapped sectors and strengthening the ecosystem. While not ignoring the possibility of an impending recession and inflationary pressures next year, the coming phase of fintech evolution in India will further shape UPI and credit cards at the forefront, and strengthen cash flow lending capabilities using tools like Account Aggregators (AA), UPI, and OCEN. Apart from payments, the expansion of wealthtech and insurtech are also seeing exponential growth.

At this significant juncture, conversations are pertinent to create engagement and maintain the momentum of a prominent fintech hub. Speaking at YourStory’s annual Techsparks 2022, the fintech sector’s move towards the ‘Big T touchdown’ requires looking ahead of the current agenda. Fintech represents a space where business models are driven to serve the mass segment with innovative themes. Positive about India’s fintech prospects, financial inclusion and financial empowerment will be the drivers of fintech revolution in the country.