In the fast-changing world of financial technology (fintech), India is leading the way by adopting advanced technologies to transform its financial sector. Over the past twenty years, India’s BFSI (Banking, Financial Services, and Insurance) sector has grown significantly, helping the country shift from a mainly cash-based economy to one that is highly digital.
Alok Kumar Agarwal, a respected industry expert and former Managing Director of Alankit, highlights that this transformation is driven by the integration of artificial intelligence (AI) and machine learning (ML). These technologies are bringing about greater efficiency, security, and accessibility in the financial sector.