One of the fastest-growing economies in the world is India. Furthermore, FinTech has revolutionized the lives of people in this country. Fintech, which stands for Financial Technology, can be defined as any innovation that makes it easier for consumers to manage their finances. Thus, India requires talent with blockchain and cloud computing skills in addition to traditional banking expertise.
It is notable that Fintech has a global impact- it is not just confined to India, but has spread to other countries such as China, Europe, North America, etc. This makes it one of the most lucrative industries today!
Globally, Fintech adoption increased by 64% in 2019, while in developing countries, it increased by 87%. Diverse stakeholders contribute to the growth of digitized payments. Additionally, the introduction of POS devices and the use of AI, blockchain, and IoT will continue to grow the economy. As 80% of banking activities at top Indian banks are conducted through digital channels, the scope for remittance programs is immense.
The fintech market in India is expected to grow at a CAGR of 12% during the forecast period.
India has become a hub for many Fintech start-ups. Getting consumers to switch to better digital alternatives is another way government initiatives can influence consumer behavior.
Some trends in the market:
Increased Mobile Banking Payments
Digital payments are growing rapidly. There are a number of factors contributing to the exponential growth of the digital payments sector, such as convenience to pay, the rise of non-banking payment institutions, progressive regulatory policies, etc.
Increased Fintech Deals in Indian Start-ups:
The second quarter of 2019 witnessed 23 deals and China 15 deals. A total of USD 657mn was invested in B2B fintech startups in 2019, exceeding the USD 617mn invested in B2C startups. Since then, the number of Fintech deals in India has been on the rise.
The Fintech market in India is fragmented due to the increase in start-ups. Global investors are actively participating in the market and challenging established players.
Due to this immense scope, Fintech offers a wide range of employment opportunities.
Reasons to rush for Fintech Certification Courses:
In technology areas such as blockchain and cloud computing, there is an increased need for experts to ensure talent availability.
Fintech Certification programs and MBA in Fintech offered by Imarticus Learning helps students achieve career goals.
The programs collaborate with prestigious industry leaders to offer robust MBA in FinTech programs that cover every paradigm of cutting-edge New Age FinTech solutions. The curriculum also exposes students to critical FinTech components.
Fintech Certification is listed in Top Career Options by Forbes.