Indian banks to benefit from segmented fintech sector

Kotak Mahindra Bank’s chief digital officer speaks to FinanceAsia about how Indian banks are tapping into fintech development.

Indian banks have enormous opportunities to develop new finance-related technologies to support its banking business as the country remains at the early stage of fintech development where digital services are offered across a large group of startups.

This is the view of Deepak Sharma, chief digital officer of Kotak Mahindra Bank, India’s second-largest bank by market capitalization, as he spoke to FinanceAsia in an exclusive interview about India’s fintech development.

“Indian banks now possess a lot of opportunities to develop non-bank digital product offerings because the fintech landscape is still highly fragmented without any company or institution dominating the sector,” Sharma told FinanceAsia.

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