01. Gold Standard Consumer Experience
India’s fintech ecosystem is evolving at a rapid pace. Santosh Agarwal, chief executive, Paisabazaar, talks about the five factors that would decide the winners in the race
01. Gold Standard Consumer Experience
Today’s Indian is a tech-savvy global citizen. Fintechs cannot be left behind. Real time and data-driven personalised experiences, sharper offers and product recommendations, frictionless processes and seamless delivery—across credit, insurance and investments—have to become the new normal for fintechs.
02. Trust and Transparency
Fintechs that solve real consumer problems, build for the long term, create a healthy business and remain consumer-focused will survive and win in the long run. Consumer-centricity, transparency and responsible practices over the long run are key in building consumer trust. Fintechs of tomorrow would be agile businesses that are on the consumers’ side.
03. Resilience Through Diversification
Diversification and expansion are key for fintechs, shielding them from tough external environments, market volatility, economic cycles among others. It not only future-proofs businesses but enables them to grow more sustainably in the long run.
04. Building for Bharat
India’s best-in-class digital public infrastructure has paved the way for fintechs to go beyond metros and take their services and products deep into the country. Fintechs of the future would cater to the ‘underserved low-cost high-volume segments’ efficiently for long-term financial health of Bharat.
05. Technology-Led Innovations
Fintechs that leverage technology to keep innovating and make a difference in consumers’ lives would win in the long term. While today’s fintechs are focused on digitising processes and enhancing experience, tomorrow’s would be about re-imagining the financial experience. They would redefine speed, access and personalisation.
(As told to Nandini Keshari)