Inclusive finance to lift fintech firms

With more banks offering services for inclusive finance, companies offering credit reporting systems based on big data analysis will benefit, said analysts.

Financial technology or fintech companies, particularly those focused on credit analysis, will greatly reduce cost of lending and also reduce credit risks. So, they are likely to experience fast growth on market demand as commercial banks are joining the inclusive finance market.

That market is currently dominated by smaller, private financial institutions, such as peer-to-peer or P2P lending platforms and consumer finance platforms.