COVID Proves To Be A Turning Point In Fintech Space
BW Businessworld’s Chairman and Editor-in-chief Dr. Anurag Batra’s Fireside chat with Srinath Sridharan, Independent Market Commentator & Member of Governing Council, FinTech Association for Consumer Empowerment was truly a power-packed show where they openly talk about how fintech players will actually craft the future of our country.
The world now clearly boasts of a new order of things while facilitating a distinct routine for the people. This transformation marks the persistence of social distancing-codes and other health & hygiene-focused lifestyle adjustments across all spheres that have already become a norm since the onset of the pandemic.
“What Covid has also changed is the removal of digital barriers across many industries,” believes Sridharan. The fireside chat gave rise to many such inquisitivities and situation and Dr. Batra summed it up in a very apt way by asking as to “how has the new world post pandemic, given rise to a new era for fintech players?”
Sridharan responded to his question by explaining, “New-age fintech players have given rise to high-impact financial solutions, earning a leading edge over their peers in the post-Covid-19 market. In fact, innovators in the country’s fintech space are already supporting the quarantined population – individuals and enterprises alike – in the lockdown-battered scheme of things.”
Sridharan claims that looking at financial side of banks, customer caterings, etc. are struggling to get on to the digital project.
Lastly, Sridharan believes that customers basically have 3 main financial needs when they go out in market and new new technology which is here to stay and suffices their issues is what they will always bank upon. The 3 main needs are;
Borrowing money for a reason
Ways to invest the surplus money and,
Means to protect the personal belongings or properties