Year 2016 has witnessed a substantial growth in fintech segment, received huge attention from Venture Capitalists, entrepreneurs and government institutions across the nation. Between the years 2010 to 2016, investments in the Fin-tech sector has jumped enormously. 2015 and 2016 was a revolutionizing year that witnessed emergence of numerous fin-tech start-ups, incubators and many favorable government institutions.
As per the KPMG report 2016, the world has seen the emergence of more than 12,000 start-ups and massive global investment of USD 19 billion in 2015 in the fintech space. These innovators are utilizing tech tools to bring in seamless and innovative financial services for the banked and unbanked population. The global fin-tech software and services sector is expected to boom as a USD 45 billion opportunity by 2020, growing at a compounded annual growth rate of 7.1 per cent as per NASSCOM.
Indian government has also taken many initiative to support startup segment in India and the latest move of demonetization of currency has been a boon for fintech segment; brought a remarkable change in the segment. Note-Content is provided by our partner. Read more Industry News.