India has a unique FinTech lending ecosystem due to the nature of its market and regulatory approach. When asked about the most important step needed to accelerate the sector, 35% of senior industry representatives polled opined that the sector needs to start serving the huge “credit invisible” segment. A POW report states 90% of the “credit invisible” segment consists of MSMEs and individuals, and the sector might need a tailored approach to cover this untapped segment.
However, a large number of respondents shared a different opinion. 26% said large scale collaboration for creating a robust and sustainable platform is the most imminent step needed, while 24% voted for developing a unique lending ecosystem. 15% believed gunning for healthy growth and regulatory oversight will help in accelerating the sector.