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Industry Landscape
The Indian Fintech Consumer Lending and BNPL market is experiencing robust growth, driven by increasing digital adoption and a large underserved population lacking traditional credit. Companies leverage AI and mobile technology to offer accessible, flexible credit solutions, fostering financial inclusion. Competition is intensifying, but the market's high potential for new users and diverse product offerings maintains its dynamism.
Total Assets Under Management (AUM)
Online Payments Volume in India
~Over 87.5 billion transactions in FY23 (RBI)
(57.8% CAGR)
- Driven by UPI adoption.
- Increased e-commerce and digital services usage.
- Government initiatives promoting digital transactions.
Total Addressable Market
50 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Credit Scoring
Utilizing advanced AI models to analyze vast, unstructured data for more nuanced and accurate credit assessments, especially for new-to-credit or thin-file customers.
Blockchain for Digital Identity & Credit Ledger
Implementing distributed ledger technology to create secure, immutable digital identities and a transparent credit history, enhancing trust and reducing fraud.
Embedded Finance
Integrating financial services directly into non-financial platforms and apps, making credit options seamlessly available at the point of sale or need.
Impactful Policy Frameworks
RBI’s Digital Lending Guidelines, 2022
Issued by the Reserve Bank of India (RBI) in September 2022, these guidelines aim to curb malpractices in digital lending by regulating loan recovery practices, mandating transparent disclosure of interest rates and fees, and ensuring that lending is done by regulated entities.
This policy directly impacts ZestMoney by requiring greater transparency, fair practices, and adherence to regulated entity partnerships, potentially increasing compliance costs but also building consumer trust.
Guidelines on Default Loss Guarantee (DLG) in Digital Lending, 2023
Released by the RBI in June 2023, these guidelines permit regulated entities to enter into DLG arrangements (First Loss Default Guarantee) with Lending Service Providers (LSPs), defining the cap on such guarantees and clarifying operational aspects.
This policy impacts ZestMoney by formalizing and regulating its partnerships with lending entities, potentially affecting risk-sharing arrangements and capital requirements for its credit facility offerings.
Payments Vision 2025 (RBI)
Launched by the RBI in 2022, this vision aims to achieve a highly secure, efficient, accessible, inclusive, and affordable payment system by 2025, focusing on ubiquitous digital payments, strengthening payment infrastructure, and increasing internationalization.
While not a direct regulation, this vision encourages the continued growth of digital payments and infrastructure, which is highly beneficial for ZestMoney's mobile-first, digital EMI model, potentially expanding its reach and operational efficiency.
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