Foreword by IAMAI

Since it’s formation, IAMAI has worked extensively with our industry members to foster a more inclusive and enabling digital ecosystem in India. Through the efforts of the Payments Council of India (PCI) and IAMAI’s FinTech Committee, we are excited to work towards India’s transition towards a less-cash, more diverse and financially inclusive economy that is geared towards introducing an ever widening population to Digital financial services.

Our belief is that this transition will be best brought about through deep partnerships between incumbent banks, new world disrupters and the government. The structure of our organization and all our efforts echoes this belief, which is why we eschew an ’us versus them’ mentality in favor of a close-knit, partnership based model.

This report explores some of the most pertinent trends that are at the root of the FinTech revolution currently underway in India. We will follow it up with a series of deeper dive analyses which will get into more details about the underlying causes and regulatory / industry changes required to usher in the FinTech age in India.

Subho Ray

President, IAMAI