P.S. For those who have scrolled this far, I'm currently looking for product management case study partners. If anyone is interested feel free to reach out.

If you want to read more of my thoughts on the report, feel free to checkout my blog: saffronstock.substack.com/p/insights-f...

Also, please check out the full report. It is extremely detailed and well written: elevationcapital.com/perspectives...

➡️ Embracement of AI in Fintech

AI's ubiquity extended to the fintech sector in 2024. We saw India's largest NBFC, Bajaj Finance, announce that it is aiming to become a "FINAI" company, by integrating AI in its core functions like sales, risk and compliance.

➡️ VC Investment in Fintech, Beyond Lending

The common assumption that all fintech products ultimately gravitate towards lending was largely disproven in 2024 as ~80% of fintech funding in 2024 went to non-lending business models.

The DPI development from the report that excited me the most was the introduction of the Unified Lending Interface (ULI), which promises to profoundly impact rural credit by organizing a currently unorganized sector.

➡️ Tremendous Growth of India's Digital Public Infra

UPI's growth continued in 2024, reaching a remarkable milestone, powering half of global real-time payment transactions. Credit on UPI also saw a massive uptick with it nearly doubling to ₹64,000 crore in just the first seven months of FY24.