With a population of about 1.3 billion, India is one of the rising markets for Fintech. A big percentage of unbanked or underbanked population and the fact that it is a youthful nation witnessing lofty growth in digital penetration, makes India a moving global room for Fintech. With more than a billion dollars flowing into the startups, Fintech in India has grown speedily in the last 3-4 years. And the industry is expected to grow further with same rate. Banks, financial and even non financial institutions have taken note of this and are aggressively participating in the ecosystem. The government and the regulators have also taken a number of initiatives to boost up the Fintech ecosystem and provide startups with new opportunities to launch competitive and innovative products.
And when it comes to competitive products or betterment of products, product manager comes into the picture. Linking with the next generation of consumers is product management, growing into digital business building is product management; story of innovation is product management. Product manager is accountable for leading the success of a product and guiding the cross-functional team which is responsible for improving it.
Evolution of Fintech
Innovation in the fintech industry has become a universal phenomena not limited to any particular region alone. Among the diverse areas in which fintech has been making storms, few areas stand different, these include – taking data at the core of fintech business models and adoption of open banking regulations all over the world. Going forward, it may not be shocking to observe increasing participation from the non-financial sector, such as telecom, power and retail, leveraging the open data as a means to expand their portfolio by foraying into financial services.
This story is from the May 2020 edition of SME World.
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This story is from the May 2020 edition of SME World.
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