The Fourth Industrial Revolution carved a way for the ubiquitous digitization of human life, and finance is a crucial contributor to several aspects of it. In fact, India’s digital lending market already stood at $100 billion prior to the pandemic and is estimated to expand to $350 billion by 2023.
Factors such as India’s colossal adoption of fintech, growing smartphone usage, high internet penetration, credit range flexibility, and tech-enabled convenience have made formal credit accessible to populations and organizations that were previously excluded.
As the face and size of credit change, so does the nature of trust. After all, at its core, credit is the exchange of money between parties based on mutual trust. It isn't just an economic variable but an invisible need rooted in every thriving economy. Who and how we choose to trust will decide how robust or vulnerable the future of our financial ecosystem will be.
What does trust look like in the digital era? What role will technology play in the evolving nature of trust?
In this fireside chat, we will explore India's journey to transform trust from a static element into a more dynamic one utilizing the power of AI, ML, and other cutting-edge technologies.