BankTech investment projected to hit $1 bn by 2027 end: Cedar-IBSi Capital

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BankTech investment projected to hit $1 bn by 2027 end: Cedar-IBSi Capital - Business Standard

Quick Summary:

Cedar-IBSi Capital Founder and Managing Partner Sahil Anand said technological revolution has been transforming banking services in India, bringing down its core functions towards digitisation.

Venture capital fund Cedar-IBSi Capital on Sunday said investment in the country's BankTech sector is projected to reach USD 1 billion by the end of 2027.

Research indicates that about 80 per cent of the traditional banking services can now be performed digitally, he said, adding that technology is playing a crucial role in driving financial inclusion, extending banking services toconsumers in underserved regions.