Online lending platforms (as opposed to sub sectors such as payments or wealth management), are seeing several new entrants in the market offering novel financial products. Free from regulatory and legacy baggage, fintech lenders are gaining competitive edge over traditional banks. 67% of traditional financial institutions are already feeling the heat2. 84% of traditional financial institutions are embracing disruption3. 95% of traditional financial institutions are expected to increase fintech partnerships in the next 3 to 5 yearsWhile fintech lending is still at a nascent stage in India as compared to its global counterpart, it is poised for expansion.

Source: Economic Times September 09, 2017 08:15 UTC