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• During recent times, most fintech startups are shoring up their funds and funding
from investors and lenders, such as Paytm, PhonePe, Ezetap, Billdesk,
Capital Float, Lending Kart, Policy Bazaar, and others. Others have implemented
cost-cutting measures, such as reducing their employment.
b) Advantages and Challenges FinTech's survival is contingent subject to these competitive advantages —
• Using alternative data sources to compete with incumbents' considerable data advantages by leveraging new technological platforms
• Benefiting from
the lack of legacy systems, procedures, and culture by participating in more extensive business and service networks to compensate for brand and advertising drawbacks.
Obstacles - Creating a value proposition takes time and effort.
• For industry issues, generic Fintech solutions will not suffice.
• Financial institutions have a hard time distinguishing between quantitative and qualitative data. Benchmarks for Fintech Success on a Qualitative Level.
• Organizational restrictions such as - deals that aren't completed on time and financial institutions that are segregated are challenging to overcome. Such restrictions are preventing Fintech ideas from being implemented.
c) Trends • The potential use cases of Blockchain
in Fintech are growing, with an increasing fit in guaranteeing audit compliance and anti-money laundering policies.
• Financial authorities worldwide are keeping a watch on fintech's progress to assess how it will be used. With no formal guidance in place, the difficult balancing innovation with risk and control is difficult
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