The business is effectively expanding due to social fintech inclusivity.

The financial services industry has experienced significant change since the 2008 financial crisis began. General discontent with traditional financial institutions and their inability to adapt to shifting customer needs contributed in part to the growth of the FinTech sector. According to EY Fintech Adoption research, a third of all digitally active people use fintech products, an increase from 15% in 2015. According to projections, the industry will continue to grow as more people accept the digitization of banks and have access to crucial financial services through technology. According to Siddharth Mehta il&fs, "FinTech is one of the most well-liked sectors today in terms of potential for short-, mid-, and long-term growth.".
 
 When discussing social FinTech, it's critical to distinguish between businesses that are ostensibly socially conscious and those that have established social corporate responsibility (CSR) practices. The main objective of social businesses, on the other hand, is to use market mechanisms to address a pressing social or environmental issue. On the other hand, while any company can incorporate CSR practices into its fundamental business strategy, this is not their primary objective. Consequently, when compared to common companies with a social conscience, like Siddharth Mehta IL&FS .
 
 The social FinTech sector also refutes the myth that for-profit financial organizations cannot prioritize social impact as a goal. A recent study found that over 70% of "impact" businesses make more money than traditional ones, and that impact investment has grown by about 10% since 2012. Consequently, it is possible for a business to engage in traditional financial activities, generate profit, and contribute to society all at once.
 
 According to Siddharth Mehta of Bay Capital, the main factor luring customers to social FinTech products is their "social" appeal. Despite the lack of data in the field due to its recent emergence, studies show that social FinTech enterprises will continue to grow in number and most likely establish a greater presence in underdeveloped nations. Despite having astronomically high percentages of residents who lack access to banking, China, India, and Brazil are among the top five nations in the world for FinTech adoption rates.