{"id":1729,"date":"2016-05-25T07:34:00","date_gmt":"2016-05-25T07:34:00","guid":{"rendered":"https:\/\/home.flexiloans.com\/demo\/?p=1729"},"modified":"2025-06-25T17:45:25","modified_gmt":"2025-06-25T12:15:25","slug":"disruption-in-financial-services-tapping-the-missing-middle","status":"publish","type":"post","link":"https:\/\/flexiloans.com\/blog\/disruption-in-financial-services-tapping-the-missing-middle\/","title":{"rendered":"DISRUPTION IN FINANCIAL SERVICES \u2013 TAPPING THE MISSING MIDDLE!"},"content":{"rendered":"\n

Disruption in Financial Services: Nandan Nilekani at TiE LeapFrog<\/a><\/p>\n\n\n\n

What an amazing note by Mr. Nilekani. We summarise what will drive disruption:<\/p>\n\n\n\n

A. E-Commerce and Mobile<\/strong> \u2013 An extremely potent combination for India with high adaption of E-commerce and Low cost smartphone availability<\/p>\n\n\n\n

B. Move to Cashless Economy<\/strong> \u2013 Today only 5% of personal consumption is cashless but massive change happening. Five key steps here : 1) Electronic clearing is at par with Hard clearing for the first time in India 2) IMPS- Instantaneous credit platform 24*7 (In 3 years, Volume increased on this platform is 1\/3rd of total E- remittances in India). IMPS will overtake debit\/ credit cards in India in the next few yrs 3) E- commerce and Digital payments expected to go 3-4 X times. A large COD (today at 80%) will shift to Digital payments 4) 3-4 Bn recharges happening per month in India and only <5% happening digitally today. Will explode eventually. 5) LPG subsidy itself is over a billion transactions in India per annum. Expanding the DBT scheme will result into over 4 bn transaction happening online.<\/p>\n\n\n\n

C. Aadhar based authentications<\/strong> \u2013 Re-imagine the future, not a western theme. Over 900 mn Aadhar registrations. An IRIS camera takes less than $5 to add to a smart phone and will change the way authentication is done in India. In 6-9 months, 2 factor single click authentication will be accessible to everyone.<\/p>\n\n\n\n

D. Jan- Dhan Accounts<\/strong> \u2013 Over 1 bn people now in India with Bank accounts, mobile phones and Aadhar registrations will change the digital banking paradigm.<\/p>\n\n\n\n

E. Wallets<\/strong> \u2013 UPI and inter-operability amongst wallets will bring ATMs in everyone\u2019s phone.<\/p>\n\n\n\n

F. E-sign<\/strong> \u2013 Explosion of innovation due to removal to unnecessary documentation hassles moving out.<\/p>\n\n\n\n

We will move from Data poor to Data rich soon \u2013 we will have a Tsunami of data and information. The Bank will be in the Mobile Phone and Banking will get disrupted. Lending will change to data and algorithms and A BILLION PEOPLE ARE GOING TO BENEFIT. Lets the games begin\u2026\u2026\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Disruption in Financial Services: Nandan Nilekani at TiE LeapFrog What an amazing note by Mr. Nilekani. We summarise what will drive disruption: A. E-Commerce and Mobile \u2013 An extremely potent combination for India with high adaption of E-commerce and Low cost smartphone availability B. Move to Cashless Economy \u2013 Today only 5% of personal consumption is cashless but massive … <\/p>\n","protected":false},"author":1,"featured_media":1730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[53],"class_list":["post-1729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst","tag-fintech"],"yoast_head":"\nFinancial Services Disruption \u2013 The Missing Middle<\/title>\n<meta name=\"description\" content=\"Disruption in financial services - tapping the missing middle, nandan nilekani speak, alternative lending, new age India.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flexiloans.com\/blog\/disruption-in-financial-services-tapping-the-missing-middle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Services Disruption \u2013 The Missing Middle\" \/>\n<meta property=\"og:description\" content=\"Disruption in financial services - 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