PressReader : Views of Siddharth Mehta
Siddharth Mehta Bay Capital (CIO) says India is at
the final frontier where businesses can attract the
one sixth of the world's population.
Fintech and the Future of Banking
Fintech is one of the topics in financial inclusion that has recently sparked the most hype—and confusion. New businesses, business models, and products are continually being inspired by digital technology, and this is changing the value chains of the financial services industry. Siddharth Mehta Il&FS Says Even though many fintechs assert that they promote financial inclusion, the connection between particular innovations and financial inclusion is frequently assumed rather than proven. Despite all the excitement surrounding fintech, it is difficult for funders, investors, and social entrepreneurs to determine which innovations are important for low-income, underserved customers. As we have seen with digital credit in East Africa, the excitement surrounding fintech can also obscure risks it poses to financial systems and low-income customers. CGAP is working to clarify the market with a focus on what matters for the poor in order to assist funders, providers, and regul...
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