What are the Fintech Trends and their Impact on SMEs
The SME sector contributes significantly to the economy of India. Despite being a strong contributor to India’s business ecosystem, small businesses hardly get access to technology and capital.
Fintech is quickly transforming businesses and technology and significantly impacting SME businesses in India.
Financial institutions provide SMEs with a single dashboard that connects with their accounting software.
These integrated service packages also include business insights and details on their eligibility for emerging fintech trends.
Using a real-time payment solution is essential for SMEs trying to reduce costs.
Easy Credit Access. Fintech often collaborates with banks and NBFCs and provides a simple loan process.
They now use digital lending systems to automate the loan process, improving the client experience.
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India has the highest fintech adoption rate of all the nations at 87%, which is significantly higher than the global average of 64%.
Hylobiz automates business processes with zero process change. The idea was to build an automated business banking platform in a box.
A business can digitize its collections and payouts with Hylobiz. For more efficient management of transactions, working capital, and compliance, link your bank account and ERP.
Smart dashboards and automated reporting can help you make better decisions and see the consistent business progress.
Hylobiz CEO Vishal Gupta shared his thoughts on the changing roles of banks and fintech.
FinTechs are building on banks' legacy systems to simplify decision lifecycles from underwriting to disbursements. Both are working towards internationalizing SMEs to trade better.
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