{"id":265,"date":"2023-08-08T13:51:58","date_gmt":"2023-08-08T13:51:58","guid":{"rendered":"https:\/\/fintech.exrtechsolutions.com\/?p=265"},"modified":"2023-08-10T08:53:28","modified_gmt":"2023-08-10T08:53:28","slug":"in-2023-how-will-fintech-advance","status":"publish","type":"post","link":"https:\/\/fintech.exrtechsolutions.com\/index.php\/2023\/08\/08\/in-2023-how-will-fintech-advance\/","title":{"rendered":"In 2023, How Will Fintech Advance?\u200b"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"265\" class=\"elementor elementor-265\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3fb0dc7f elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"3fb0dc7f\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-2ec50780\" data-id=\"2ec50780\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2ab23456 elementor-widget elementor-widget-heading\" data-id=\"2ab23456\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">FIN TECH <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-718ec8fd elementor-widget elementor-widget-text-editor\" data-id=\"718ec8fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>UPDATES<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-677a908d\" data-id=\"677a908d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-9c7e041\" data-id=\"9c7e041\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ec26a19 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"6ec26a19\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5ec6b936\" data-id=\"5ec6b936\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1180d2b5 elementor-widget elementor-widget-heading\" data-id=\"1180d2b5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">In 2023, how will fintech advance?<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b8f0b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"7b8f0b5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-620f539e\" data-id=\"620f539e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ce03763 elementor-widget elementor-widget-text-editor\" data-id=\"1ce03763\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Despite a general decline in venture funding and the ripple effects of the cryptocurrency business, financial services continued to be one of the top areas for financing in 2022. Fintech is anticipated to continue to grow in 2023, solidifying India as the centre of financial innovation.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-5452e172\" data-id=\"5452e172\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e04a982 elementor-widget elementor-widget-image\" data-id=\"6e04a982\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1-1024x576.png\" class=\"attachment-large size-large wp-image-267\" alt=\"In 2023, How Will Fintech Advance?\u200b\" loading=\"lazy\" srcset=\"https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1-1024x576.png 1024w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1-300x169.png 300w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1-768x432.png 768w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1-1536x864.png 1536w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Top-5-Edge-AI-Trends-to-Watch-in-2023-AI-EdgeTech-1.png 1920w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a385a53 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"a385a53\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31190bc4\" data-id=\"31190bc4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c815cdc elementor-widget elementor-widget-text-editor\" data-id=\"c815cdc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The Indian fintech industry was hampered by a series of setbacks in 2022, including collapsing valuations, the cold winds of the financing winter, funding freefalling to levels worse than those of pre-Covid-19, and the catastrophic collapse of nascent businesses.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">According to research firm data, spending on the Indian fintech ecosystem decreased by almost half, from $10.3 billion in 2021 to about $5.7 billion in 2022.The government calls for stricter law enforcement to better protect users followed. Slice and Uni&#8217;s business models were disrupted by the Reserve Bank of India&#8217;s (RBI) ban on non-bank fintech companies filling their prepaid instruments using credit lines. The crypto industry&#8217;s huge asset price declines have further added to the sector&#8217;s problems.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Despite the difficulties that lie ahead, stakeholders in the fintech sector appear to be optimistic about the direction that the sector will take in 2023.<\/span><\/p><p><span style=\"font-weight: 400;\">Furthermore, an EY analysis predicts that by 2030, the domestic fintech industry would generate $200 billion in revenue and $1 trillion in AUM.<\/span><\/p><p><span style=\"font-weight: 400;\">India is now in a great position to inspire a new wave of innovation in the fintech sector.<\/span><\/p><p><span style=\"font-weight: 400;\">Several fintech companies that have been successful in India might also find that other emerging economies are copying their business strategies. &#8220;Revenues and business models will show growth and maturity with increased adoption rates and newer B2B fintech startups growing up,&#8221;<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">According to experts, the fintech industry&#8217;s payments segment may continue to receive the most funding, particularly for B2B payment-focused businesses. While there are many underserved populations in the country who lack access to even the most fundamental financial goods, emerging markets offer another expansion potential for fintech businesses. Additionally, they anticipate consolidation as fewer companies can scale up and capital becomes scarcer.<\/span><\/p><p><span style=\"font-weight: 400;\">Fintechs with tested business models, cutting-edge goods and services, strong teams with the capacity to scale, and these attributes will continue to draw investment, albeit at lower values than in the past.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">According to a TransUnion CIBIL survey, credit awareness among Indian individuals has significantly increased, especially among Gen Z audience living in non-metro areas.<\/span><\/p><p><span style=\"font-weight: 400;\">It should come as no surprise that more Generation Z are now falling into the category of customers who the fintech companies seek to attract.<\/span><\/p><p><span style=\"font-weight: 400;\">Credit is becoming more easily accessible at a greater credence thanks to technologies like the Account Aggregator architecture and AI.<\/span><\/p><p><span style=\"font-weight: 400;\">The next wave of growth in the fintech sector may be sparked by the technologically savvy Gen Z.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5dd9f036 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"5dd9f036\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5e3c715a\" data-id=\"5e3c715a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FIN TECH UPDATES In 2023, how will fintech advance? Despite a general decline in venture funding and the ripple effects of the cryptocurrency business, financial services continued to be one of the top areas for financing in 2022. Fintech is anticipated to continue to grow in 2023, solidifying India as the centre of financial innovation. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":267,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_canvas","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/265"}],"collection":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/comments?post=265"}],"version-history":[{"count":8,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/265\/revisions"}],"predecessor-version":[{"id":435,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/265\/revisions\/435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/media\/267"}],"wp:attachment":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/media?parent=265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/categories?post=265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/tags?post=265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}