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videos | IST

Indian fintechs are both challengers & collaborators to banks, NBFCs: Credit Suisse

Digital payments have played a huge part in the economy, said Ashish Gupta, head of equity research-India & Financials-Asia Pacific at Credit Suisse, on Wednesday.

Digital payments have played a huge part in the economy, said Ashish Gupta, head of equity research-India & Financials-Asia Pacific at Credit Suisse, on Wednesday.
Digital payments and lending seem to be the future, and India is clearly in the game with several fintech unicorns. In an interview to CNBC-TV18, Ashish Gupta spoke at length about what this might spell for India’s financial landscape and its banking sector.
“The corporate landscape in India has been changing and all of us are focused on only one part of the landscape, which is the listed universe. We felt there was lot more activity, value creation, more growth emanating from this universe and much of it is in the private space and that’s what turned our attention to this space," he said.
Gupta says fintech (financial technology) are challengers and collaborators for a lot of incumbents. Whenever there is an advent of new technology, it goes on to hurt the incumbents, he said.
However, in India because of the model of fintech development, they are as much collaborators and partners as they are challengers of a lot of incumbents, banks as well as NBFCs, Gupta added.
For more details, watch the video.