Adroit Market Research - Industry Insights

Fintech alternatively known as financial technology is a holistic compilation of various finance specific companies leveraging tech based financial operations, eying efficiency. Heavy reliance of software based applications are envisioned to disrupt legacy financial workflow to offer agile solutions aligning with consumer specifications. Besides substantial advances in matured economies on the back of surged presence of leading industry veterans, emerging economies such as India is soon entering the league with substantial advances from industry stalwarts banking upon geographical penet

Fintech alternatively known as financial technology is a holistic compilation of various finance specific companies leveraging tech based financial operations, eying efficiency. Heavy reliance of software based applications are envisioned to disrupt legacy financial workflow to offer agile solutions aligning with consumer specifications. Besides substantial advances in matured economies on the back of surged presence of leading industry veterans, emerging economies such as India is soon entering the league with substantial advances from industry stalwarts banking upon geographical penetration.

However, despite fintech proliferation, the market is notably challenged owing to surged instances of anti-money laundering and digital identity theft. Fintech companies therefore are exploring new means to enable fraud risk compliance with advanced machine learning and AI technologies. Advances in e-commerce space is closely shaped by milestones in fintech industry. However, these far flung advances are bolstering challenges of transaction frauds mediated in digital platforms.

As fintech space is a fast outgrowing its infancy, the landscape is dominated by diverse market start-ups vouching on disruptions entailing fundraising, fund transfer, loan management as well as asset management.

Digital Identity Veteran Socure to Diversify Geographical Penetration in APAC

To cite an instance in this regard, Socure which is best known for its digital identity verification is soon to enter Indian markets. The company is hopeful of doling out diverse fintech services specific to Indian consumers. Socure is also hopeful to diversify its services across major Indian cities besides also diversifying its workforce strength. Catering specifically to the challenges of digital identity theft, Socure relies on AI and machine learning capabilities to precisely monitor and harness data intelligence across multiple platforms such as social media accounts, emails and the like in real time. With this novel development in place, fintech companies are likely to offset challenges of data theft a persistent bottleneck in fintech space.

Machine learning and AI tactics aid computers in recognizing fraudulent schemes with the help of advances algorithms that allows computers to identify and pin fraudulent transactions. With booming e-commerce in place, fintech institutions are substantially evaluating diverse fraud identification and prevention schemes to ascertain safe digital transactions.

APAC Emerges as a Promising Growth Spot for Fintech Market on the Back of Rising Cashless Economy

A growing middle class population and technological intervention are backing APAC's dominance in global fintech space. Countries such as Indi are China who boast of population spike continue to remain hub for inclusive financial services.

Additionally, lucrative funding schemes across private equity and several venture capitalists are allocating funds. India's Policybazaar and PayTM as well as China based Lu.com are growing instances of fintech advances in APAC.

Further, the region is also treading towards a cashless economy are likely to underscore growth in fintech market in APAC. Third party institutions aiding hassle-free digital transactions are paving for new possibilities in cashless space. Further, features such as QR code transactions are increasingly adopted for commercial applications in terms of shopping, medical expenditure, travelling as well as dining amongst others.

Lucrative Cashback and Discounts Schemes to Aid Digital Payment Schemes in APAC

According to a recent survey and research output by London based research institute, Findexable, India is emerging as a strong hub for fintech innovations and adoption. Economic decisions such as nationwide ban on large denomination currency and advanced services such as instant transfer system backed by mobile applications have leveraged adoption of fintech services. Adoption of digital payments is also strongly influenced by several government and private schemes that render lucrative discounts and cash back policies upon online transactions.

Supply chain management is a versatile space, strongly governed by technological advances such as cryptocurrency and blockchain. Cybersecurity is a growing concern, arresting developments in financial data security. Also, as financial institutions and banks continue to diversify potential in mobile applications, favoring seamless online transactions, advances in fintech remain highly anticipated.

Sturdy Fund Allocations to Catapult Growth in Fintech Space, Eying Financial Inclusion across Emerging Economies

Funding schemes continue to remain highly favorable for fintech market growth. In a recent development, MassMutual Ventures of US based insurance major Massachusetts Mutual Life Insurance Company has successfully completed a fund raising venture worth USD 100 million. The development is likely to increasingly favor diverse facets such as software fintech and digital health to name a few. The development is likely to perfectly align with APAC's optimistic growth capabilities in global fintech market.

Further in fintech space, Singapore based fintech major Klub has affirmed its nw fund allotment worth over $2 million. The development will fortify Klub's distinct offerings in community engagement and data driven analytics, likely to enhance capabilities across end-use applications such as FMCG, fashion and F&B amongst others. Developments as such are likely to further intensify growth possibilities in global fintech market in the forthcoming years.

On similar lines, recent funding dedicated to the Catalyst Fund is a whopping $15 million from UK AId and JP Morgan that is envisioned to aid over 30 fintech entrants across emerging economies in Asia, Latin America and Africa. The development is poised to offer adequate funding to novice players willing to enhance financial inclusion in aforementioned regions. Developments as such are poised to further reinforce growth in global fintech market in the forthcoming years.