Given the rapid pace of innovation, regulators need to adopt such a 'test and learn' approach to stay ahead of the curve
Fintech has massive potential to serve financially underserved populations by providing customization at scale and reducing cost-to-serve, as argued in the first part of this series. Yet fintech offerings remain primarily accessible only to “elite India", i.e. the relatively well-off consumers in tier I and II cities. If fintech has the potential to be a game changer for inclusion, why are we not seeing more innovation for the mass market and the so-called “base of pyramid" (BoP) consumer?
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