The ever-evolving global scenario of business and technology works in tandem for as long as they’ve existed. Both have gained momentum and are contributing immensely towards the global progress. Furthermore, this coalition has led to the birth of the Fintech (Finance + technology) industry.
The role and size of this industry has expanded greatly over the last couple of years. A rapid increase has been observed especially since the COVID-19 pandemic. Following this trend, experts say that the industry will grow at a rate of 22.7% by 2025.
So, what role does it truly play in our world? Read on to find out.
Holistic Financial Inclusion
Fintech has opened numerous avenues for individuals across economic strata. The key reasons being its easy accessibility and customer-friendly user interface. Most fintech platforms provide a wide range of options and services under varying criteria and limit. All these factors cumulate into a holistic financial inclusion approach, which integrates the world at a different level.
Facilitates Easy Transfers
Smartphones and the internet have revolutionised the world in a way that everything can be done on fingertips these days. As Fintech is a by-product of this revolution, the industry has made a lot of processes hassle-free. Unlike earlier, documentation, paperwork, loans, money transfers, etc. can now be digitised. And they don’t even take up much time, at max, a few minutes here and there. When these services can be availed easily, precious time can be used in doing other precious things.
Technological Advancement
With new updates on software, applications, and every day devices, technological development has become a routine aspect of everyone’s lives. And this development has furthered the fintech industry’s growth. Apparently, the expansion of this industry has encouraged numerous engineers to create user-friendly and secure products & services for smooth functioning.
To conclude, the fintech industry is growing at a drastic speed, and in the right direction. It’s time that you become a part of this growth too. At Kuwy, we provide digital auto-fintech services for new and pre-owned cars. Our verified lenders and car dealers can help you select the right car and fetch the best loan deals on it. Every process, including the application and disbursal process is digitised, so you don’t have to go anywhere to avail our services. Download the Kuwy app or visit Kuwy.in now.
