The leading small finance banks believe that banking services will easily be accessible like FMCG products in 2025. The advent of new technologies will impact banking services and make customer service easy. According to the experts, the banking sector has witnessed a drastic change as digital has become a part of the “DNA” of the sector. The banking, Financial Services, and Insurance (BFSI) segment has undergone a major digital transformation.
K Paul Thomas, Managing director and Chief Executive Officer of ESAF Small Finance Bank commenting on the same said,
“Banking services will be available everywhere because, through digital, it can be accessed everywhere like FMCG products, so I hope by 2025, every kirana store will deliver cash using their mobile and every customer can avail delivery banking services.”
A Balakrishnan, Director, Google Cloud India expects that 2026 will witness 4x growth in digital payments transactions from 43 billion to 150 billion transactions, a 1.5x growth in MSME credit from 375 billion to 600 billion, a 15x growth in BNPL transactions from 3 billion to 5 billion transactions.
