Fintech lending set to surpass traditional by 2030 for mid-small income

India's fintech industry has been growing over the past few years on the back of the emergence of several fintech start-ups

The credit needs of small to mid-income segments are unique and diverse, which can be sustainably fulfilled only through fintech lending, a leading market participant has said.

The assertion comes days after the Centre for Advanced Financial Research and Learning (CAFRAL) published a report that said fintech lending was poised to exceed traditional lending by 2030.

This projection was not only a testament to the growing influence of technology in the financial sector but also an indication of the evolving preferences of borrowers and lenders.

CAFRAL, a not-for-profit organisation, was set up in 2011 as an independent body by the