Finance Trend: The value of social value creation
Fintech is about more than convenience. The sector has the opportunity to create social value, and that’s exactly what resonates with Millennials. Part I: Fintech is about more than convenience Aaah, Fintech. Making our Western-daily-lives even more easy and more efficient. We don’t need to go to our bank branch around to corner to pay our bills, and why bother leaving your house for some shopping when everything can be ordered and paid for online? Thank God, we’ve got Fintech. But Fintech is about much more than convenience and first world problems . The Indian government has used Fintech on a massive scale to make financial services available for the previously unbanked. Platforms and technology such as Aadhaar (digital identification), Jan Dhan Yojana (payment banks which hold money but don’t do lending) and India Stack (store and share personal data online) allow citizens to open bank accounts, transfer money instantly and lend wisely. By mid 2016, 270 m...