The fast-growing fintech sector is slowly getting into the space of the traditional banking sector with the latest technology inputs, according to Ketan Doshi, MD, PayPoint India.
Fintech companies are expected to do what banks are currently doing in the coming years, he said. “You will see many fintech companies moving into the normal banking area. The traditional way of banking is going to change,” Doshi told The Indian Express.
Fintech or digital innovations have emerged as a potentially transformative force in the financial markets aiding efficiency improvements, risk reduction and greater financial inclusion, he said.
Doshi sees last mile delivery of financial services as a huge opportunity as till date, most of the financial services were pushed to people who were already included in the financial system. “This also generates revenue at all levels unlike other bleeding segments. We would say that treasure lies at the bottom of the…