Fintech firms have been trying to modify the small business lending market by using technology to simplify the lending process and increase transparency. INDIA is changing into an effervescent ecosystem offering fintech lending start-ups a platform to potentially grow into billion-dollar unicorns. Although relatively young at present, the sector is escalating rapidly, fueled by the large innovation-driven start-up landscape, and responsive government policies and regulations. The year 2016 has witnessed major technology changes in the country’s financial services industry. The traditionally cash-driven Indian economy was seen responding well to the fintech opportunity, primarily generated by an upwelling in e-commerce, and smartphone penetration. Fintech firms have been trying to modify the small business lending market by using technology to simplify the lending process and increase transparency.

http://www.financialexpress.com/money/fintech-start-ups-can-lead-the-way-to-indias-financial-inclusion/501080/