Finsire’s Post

By FY25, every Indian is likely to have access to an integrated bank statement analyzer within their net banking and other super apps. This AI-driven tool, will enable individuals to manage finances more effectively, with insights that are accessible only to high net-worth Individuals today. In addition to this, Indians will be able to monitor their net worth in real-time across various accounts and institutions through a single application. This will allow seamless tracking of all financial holdings in one place, with the added convenience of performing transactions through a unified platform. The ability to track and share net worth will empower users to negotiate better deals with financial service providers. By leveraging competition among providers, users can secure more favorable terms, whether for credit options or investment advice. However, this increased transparency and competition might come at a cost for those with poorer credit histories. As India's per capita GDP and disposable savings grow, a shift towards secured credit is expected. Most users will likely prefer secured credit over unsecured options, driven by the benefits it offers—lower interest rates, tax advantages, longer tenures, and flexible repayment structures. These features will make secured credit an increasingly popular choice for loans, overdrafts, credit cards, and financing purchases. Finsire is fiercely developing such solutions, to help financial institutions stay ahead of the curve and the predictions above become a reality ASAP!