“Digital India’ campaign with the sole objective of making India a digitally empowered nation. The campaign has three main components: (a) development of secure and stable digital infrastructure, (b) delivering government services digitally, and (c) universal digital literacy.
A digitally literate nation cannot be digitally empowered through the availability of infrastructure and online government services only. India will become digitally empowered only when its citizens will confidently let-in the digital mode into their economic, social, cultural and political lives. In this article, I look at the role of financial technology companies (Fintechs) in making India a truly digitally empowered nation.
Use of Technology,
But the above-listed services are just the beginning of this sector’s growth. Even with several ideas already proving successful, the best and more from Fintechs is yet to come. While payments, lead generation and lending will continue to grow, the induction of new technologies based on alternative data, artificial intelligence and machine learning will lead to continuous innovation and improvement. Sectors like wealth management and insurance will also see a big increase in technology innovation in the next few years.The role of the government and government-supported initiatives is playing a big role in the success of Fintechs.
Source from: Entrepreneurs