The Indian Fintech ecosystem has emerged as the third-largest globally and is well-positioned for exponential growth. This report explores the ecosystem's rapid rise, key growth drivers, and strategies for sustainable expansion. As companies mature and consider IPOs, the report also presents an IPO Playbook. Additionally, it features insights from over 60 CXOs on profitability, growth, opportunities, and major trends shaping the future.

Digital payments in India are an ever-evolving landscape, showcasing dynamic growth and continuous innovation. Since 2021, we have launched four editions of the Indian Payments Handbook, with the latest unveiled at GFF Fest in September 2023. This comprehensive handbook delves into the rapid advancements within India’s digital payments sector, highlighting key trends and groundbreaking innovations poised to revolutionize the industry. In the current edition, we offer an in-depth analysis of recent trends across major payment modes, including Unified Payments Interface (UPI), Cross Border Payments, Merchant Acquiring (both online - PA PG and offline - QR, Sound Box, POS, etc.), Cards (Credit and Debit), Bharat Bill Payment System (BBPS), Prepaid Payment Instruments (PPI), and National Electronic Toll Collection (NETC). We explore new developments, innovations, consumer and merchant adoption, and the network effects of these payment instruments. The handbook also addresses existing and emerging challenges and opportunities that could either propel or hinder the industry’s overall growth. Additionally, it further examines the latest regulatory and government measures, along with providing insights into the pivotal role of technology and related interventions in recent advancements, underscoring how these innovations are shaping the future of India’s payments industry. At last, the handbook offers comprehensive forecasts on future trends, delivering invaluable insights into the anticipated evolution of the payments market. These predictions enable stakeholders to understand and prepare for upcoming industry shifts, ensuring they remain competitive and well-informed.

"Digitizing Supply Chain Finance: Opportunities amidst Constraints" offers a deep dive into the evolving landscape of Supply Chain Finance (SCF). Covering diverse business models from bank-led to FinTech-driven systems, it highlights technological innovations and digitization trends. This report also provides global case studies and tailored best practices for India, offering financial institutions a roadmap to initiate or enhance their SCF offerings and insights into future trends.

The report aims to outline the significant value creation opportunities for fintechs as India progresses towards a USD 10 trillion economy over the next decade. Set against the backdrop of the megatrends driving India's economic growth, the report examines the transformative impact the financial services ecosystem will have in this period. It reflects on the advancements made to date and identifies the primary challenges the sector must overcome to realize its full potential. Additionally, the report explores the pivotal 'fintech' and 'techfin' themes poised to drive innovation among Indian entrepreneurs, enabling them to create value through successful ventures in these areas. Ultimately, the report emphasizes the necessity for collaboration between entrepreneurs and incumbents to achieve the vision of a USD 10 trillion economy, underpinned by a robust and supportive regulatory framework.

The last decade witnessed massive fintech led disruptions in the world of credit. Fintechs demonstrated how technology can not only be leveraged for cost leadership but more importantly to enhance and elevate customer experience. In fact, fintechs expanded the formal market by bringing a large segment, which was either credit hesitant or was not served by formal lending, into the credit umbrella.

The size and characteristics of fintech lending, however, is not so well understood. The ripple effect of fintech lending on larger credit ecosystem too is not fully documented in the existing literature. This white paper is being released at a time when fintech lending itself is at the cusp of transformation.

Given this backdrop, this white paper will take a deep dive into the following pertinent questions:

• What is the size of the fintech lending? How much do they contribute directly or indirectly to the lending pie?
• How is fintech lending different compared to the traditional lending? Where do they focus and how do they compete with traditional players?
• What has been the experience on asset quality of book originated by Fintech and how does it compare with rest of industry?
• How will the recent regulatory guidelines help the sector in the long run?

This white paper will not only critically examine the impact created by fintechs on lending but also recommend pathways for next wave of sustainable growth.

The world of money is rapidly changing, but what does it all really mean? Exploring key developments in the past, present and future of money, this book brings these technical topics to vivid life via narrative deep dives into selected founders and their journeys.

Spanning multiple geographies from London to Hong Kong, via Cape Town, Dubai, Karachi, and many other places dotted around the world, Future Money pulls together the story of how money is changing in the internet era. This book provides a clear understanding of new technologies, showcases the successes - and challenges - of new businesses and their founders, and presents a vision of the digital future of money, finance and culture.

India is experiencing a financial transformation as managed investments surge, significantly boosting market liquidity. This trend extends beyond traditional investors, drawing in previously untapped segments and creating a diverse and dynamic investment landscape. These shifts are revolutionizing the wealth and asset management industry, which is rapidly embracing Wealth Tech and other innovative tools to meet the sophisticated demands of this expanding market. This strategic adoption is set to redefine financial services, catering to the varied and growing needs of a broader investor base.

In the evolving landscape of urban development, the integration of smart city initiatives with transportation systems and cashless transit payments represents a significant advancement. Launched in March 2019, the RuPay National Common Mobility Card (‘NCMC’) aims to provide a unified, open-loop and interoperable payment solution that enables users to pay for a wide range of services with a single card. This report traces the journey of RuPay NCMC since its introduction, its value proposition in the mass transit payments ecosystem and the key developments underway to expand its use and adoption, and elevate user experience.

The report provides an in-depth exploration of various facets of the Fintech landscape in India. The report offers an overview of the history and evolution of the Indian Fintech industry, highlighting the key factors that has driven the transformation in the space. It provides a comprehensive analysis of the current landscape, major past & current trends, future outlook, and emerging opportunities across various subsegments within the Indian Fintech ecosystem.
Report also examines the regulatory aspects of the sector & the ongoing cross-pollination opportunity between new-age Fintech companies and the traditional BFSI players. It finally assesses the maturity of the sector & the potential for companies to now list given that there are existing listed players in the markets & identifies upcoming Fintech IPO candidates and outlines the critical elements required for a successful IPO in India.