PwC’s FinTech Insights November 2018

FinTech 2.0: A new era of financial inclusion

Over the past few years, FinTech has been embedded in the financial services ecosystem to such an extent that the term has now made its way into a few leading dictionaries. While the general perception of FinTech is ‘products and companies that employ newly developed digital and online technologies in the banking and financial services industries’, we believe that FinTech has evolved to perform a much more strategic and focused role. The wider objective of FinTech is to serve the unmet financial needs of those segments of the population which are not the core target segments of traditional financial services models. Thus, FinTech aims to contribute to the larger goal of financial inclusion.