The numbers alone tell an incredible story – a projected $1 trillion in Assets Under Management (AUM) and a substantial $200 billion in revenue.
At the heart of this financial revolution lies AI, orchestrating personalized financial services through the fine-tuned precision of machine learning. Alongside, innovative lending alternatives are propelling financial inclusion to unprecedented heights. Embedded finance, on the other hand, is reshaping the very fabric of transactions across diverse sectors.
In the backdrop, we witness the transformative power of Central Bank Digital Currencies (CBDCs) and the decentralized finance (DeFi) revolution, fundamentally altering the foundations of finance as we know it.
Yet, there's more to this narrative. India's fintech ecosystem, home to over 9,000 dynamic firms, is on the verge of scripting a remarkable story – a soaring $70 billion in annual revenue by FY30. These trailblazers command a substantial 14% of the total startup funding landscape.
The digital realm echoes with the rhythms of fintech, conducting a staggering 70% of all transactions in India. It's a symphony of transformation, led by visionary innovators, driven by a data-savvy populace, and endorsed by forward-thinking regulators.
As we journey towards a potential $400 billion in value creation by FY30, we confront challenges – navigating intricate regulations, ensuring sustainability, and fortifying security standards. The fintech venture funding landscape, while evolving, faces headwinds in 2023.
Yet, our adventure continues. In this dynamic landscape, where data science and AI hold the reins, we stand at the forefront of innovation, poised to shape the future of finance.
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