Fintech empowers women in India
Digital innovation has created opportunities for financial inclusion, especially for those excluded from formal financial institutions. In the absence of banking facilities, digital solutions can provide access to credit.
In India, financial technology, or fintech, empowers women to take charge of their finances. Fintech companies provide collateral-free loans for those who have no assets. They also let women manage banking procedures through financial services.
The current value of the fintech industry in India is US$34 billion and is expected to hit US$ 84 billion by 2025. India’s National Family Health Survey-5 revealed that about 80% of women now have a bank account that they use, a dramatic jump from 53% in 2016.
How can more inclusive fintech solutions help women gain greater financial independence?
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