| |SEPTEMBER 20205VOL 3 · ISSUE 8 - 2 · SEPTEMBER 11 - 2020The evolution of the fintech industry in the subcontinent posts an inspiring anecdote. Started as a value added feature of banking, fintech, during the mid-2000s, manifested its early signs with a banking correspondent (BC) model. Then again, like any other new technology, the new concept had to curate its market first and the BC model with the basic level of tech exposure paved a way for this by bringing financial services to the rural household. But the crux of the fintech industry was molded at the beginning of the yester-decade 2010, thanks to the emergence of the digital marketplace. Then just, bam, we are en route the modern fintech. The new government coming into power, the launch of the iconic Digital India initiative, demonetization, and India Stack project, all aided in growing fintech as a robust ecosystem in shut-eye time. With UPI becoming more and more mainstream, India Stack opening new avenues, NeoBanks reaching out to the grassroots, the emergence of direct plans of mutual funds, and capital markets continuing its foray into the digital space, the fintech industry today is entering its fine-tuning phase. The results are amazing. EY's `Global FinTech Adoption Index' 2019 says that India, along with China, leads emerging markets with a high 87 percent fintech adoption rate in 2019. Of course, startups are the ones who make the most of it. Although, while deciphering the challenges in the new phase, they will have to again stick to the basic market considerations. India's financial literacy is still in its nascent stage and the market's attitude itself is a challenge. The digital payments value of $65 billion in 2019 is expected to grow at a CAGR of 20 percent till 2023, and according to NASSCOM, the Indian fintech software market is expected to reach $2.4 billion by the end of this year. Definitely, it's good times ahead and Indian startups are up for the challenge. Their stories need to be told and that's precisely what inspired us to come up with this issue ­ `10 Most Recommended Fintech Startups ­ 2020'.Do let us know your thoughts!Sujith Vasudevan Assistant EditorFintechs Enter the Fine-Tuning PhaseOffice Editorial queries editor@cioinsiderindia.comAdvertising Queriessales@cioinsiderindia.comBangaloreTel 080 46441103 To subscribeVisit www.cioinsiderindia.com/subscribe/ or send email to: subscription@cioinsiderindia.comCover price is Rs 150 per issueAshok KumarSales & MarketingGarima AnandGroup Art DirectorMagendran PerumalCirculation ManagerEditorial TeamShiwani PrakashSaroop KPVaishnavi PradeepRajan Sarma Lakshmi GCIOInsiderNo. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017S.SivasankarManjunathVisualizerPublisher & EditorAssistant EditorAlok ChaturvediSujith VasudevanPrinted and published by Alok Chaturvedi on Behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published at No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2020 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Editorial
< Page 4 | Page 6 >