Indian fintech market is forecasted to double in the next 4 years.
Launched at India Fintech Day in Mumbai on 7 June 2016, Matchi CEO David Milligan co-presented the new report ‘Fintech in India: A global growth story’ alongside global alliance partners KPMG.
The joint publication written by KPMG and Nasscom 10,000 Startups in collaboration with Matchi identifies seven potential areas that could redefine the financial services space. The report also contains a detailed overview of these areas along with their global and Indian trends.
The analysis suggests that building a robust fintech collaborative ecosystem - where start-up firms engage in external partnerships with financial institutions, universities and research institutions, venture capitalists, technology experts, government agencies - is expected to be one of the key enablers for the growth of this sector.
The report also carries recommendations as key action points to several stakeholders such as the government, regulators, financial institutions and fintech firms:
- Fintech firms need to find and leverage opportunities with organisations that offer connections to financial services players, in order to refine their offerings and test initial prototypes.
- Financial Institutions in India need to find ways to provide incubation support to fintech firms, going beyond funding and accelerator-based selection. What this means in practice is building up their capabilities to find and then run actual POC projects with fintech firms.
Download the full report at http://bit.ly/1Y8x33a