As the digital transactions are becoming increasingly prevelant, fraudsters and hackers continuously devise new strategies to exploit this vulnerable system.
Frauds
Outdated technology hinders banks, limiting partnerships with digital lenders and impacting financial inclusivity.
Tech-Disparity
Digital lending fintech startups face hurdles in establishing customer trust, particularly in tier 2 cities and beyond.
Customer Trust
High competition in the fintech sector has resulted in even higher marketing costs with each passing day, leading to increasing cash burn
High Customer Acquisition Costs
Fintech requires highly skilled talent for both innovation and growth. Attratcting and retaining such talent in a relatively new industry becomes a challenge.