7 lessons learnt from the Indian market

Digital Reinvention
10/04/2024 Article
profile picture of George Donchenko

George Donchenko

Viva Money

Country Manager

The Indian financial services market is among the fastest growing ones. The fintech sector in India is the third largest after the US and China. BLinC Insights estimates that fintech in this country is growing at 22% annually and can reach nearly $70bn by the end of 2025 (as compared to $31bn in 2021). BCG predicts that India's digital payments market will more than triple from $3 trillion to $10 trillion by 2026.

The financial services market in India has huge potential since about 15% of the local population remains unbanked. In comparison, in the United States, this share is 6%. What do young fintech startups need to know to avoid unpleasant surprises after entering this promising market? Having launched an online lending platform in India, Viva Money shares its insights. 

Want to keep reading?

Create a web account to get access to more insights

Related news & insights

Digital Reinvention
20/05/2024 News

bunq enters the insurance market with AI innovations

bunq, Europe's second-largest neobank, has launched worldwide travel insurance amidst rapid international growth, reaching 12.5 million users and over €8...

Digital Reinvention
20/05/2024 News

Emirates NBD launches fractional bonds on ENBD X mobile app

This innovation makes Emirates NBD one of the first financial institutions in the region to offer fractional bonds to individual...

Digital Reinvention
18/05/2024 News

TD Bank enhances customer experience with AI-driven mortgage and insurance approvals

TD Bank Group (TD) has launched two advanced AI solutions to expedite mortgage pre-approvals and term life insurance application approvals,...

Digital Reinvention
18/05/2024 News

Liv introduces digital joint account opening in MENAT region

This new feature allows customers to open joint accounts through a completely digital process, providing a convenient solution for family,...

18/05/2024 News

P&N Bank prioritizes inclusive experiences in new branches

Recognizing that 4.4 million Australians live with disabilities and many identify as neurodiverse, P&N Bank collaborated with community consultants with...

Digital Reinvention
15/05/2024 Article

Financial innovation spotlight: May 2024 edition

We have selected five new innovative projects that we found particularly interesting. A world tour that takes in France with...

Digital Reinvention
14/05/2024 News

Nirio launches Premio with FDJ: Simplifying everyday banking

Since January 2023, Nirio's payment solution has allowed individuals to pay for daily expenses in nearly 10,000 partner stores approved...

Open Finance
14/05/2024 News

Cwallet introduces zero-fee transactions for IDR and crypto trading

This innovative development aims to transform the way users interact with both fiat and digital currencies, enhancing their trading experience...