Breaking the bank: how fintech is stirring up a savings revolution in the digital age

YourStory | 23 July 2023

Fintech’s global buzz has many believing it has already rewritten the rulebook for financial services. But let’s face it, we've only just begun to scratch the surface of this colossal iceberg. The past decade has been a mere dress rehearsal, quietly setting the stage for a seismic shift that’s about to flip the script in finance, potentially unlocking opportunities for millions worldwide.

Let’s not downplay the game-changing strides that have brought about a sea change in the delivery of financial services. We’ve witnessed ground breaking innovations in digital payments, lending, regulatory technology (regtech), and payment aggregators that have indeed been nothing short of revolutionary. Yet, the realm of savings, a time-honoured pillar of Indian society, remains largely untouched and is ripe for disruption, particularly in the face of changing savings habits among Millennials and Gen Z.