Fintech Trends: Mobile-first approach and data science are giving a fillip to fintech

The trends shaping fintech startups in 2020 involve a highly aware customer base and further innovations in data science and data engineering.

FinTech in India has been growing at a significant pace for the last four years as a result of the increasing focus from RBI, government policies, advancing technology and affordable smartphones and data. People have also become more receptive towards digitisation and tax automation. This is owing mainly to the demonetisation of 2016 and the introduction of the Goods and Services Tax (GST) in 2017. In fact, implementation of GST alone has led to dedicated startups and new business verticals from established brands to help small, medium and large businesses with their taxes. The trends shaping fintech startups in 2020 involve a highly aware customer base and further innovations in data science and data engineering.