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SEMrush Unveils ‘Indian Fintech Market Report’ for 2020

The report forecasts the role of technology in the Fintech market and predicts future trends

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MUMBAI: SEMrush, the online visibility management and content marketing platform unveiled an exclusive report - ‘Top Insights into Fintech Industry of India’ in an event held at The Hyatt Regency, New Delhi on 20th February 2020.

Fintech industry is rapidly evolving in India and has certainly gained major traction, not just from the players in the sector or entrepreneurs but from a large pool of investors as well. SEMrush’s exclusive report uses data from over 600 most searched Fintech players of India. The report explores trends and data collected under ‘web volume searches online, social media, sentiments analysis, websites’ traffic and user behaviors’ to analyse it digitally.  

The report brings an in-depth analysis of the Indian Fintech industry that is purely driven by data collected over the last 4 years. It mirrors the current state of affairs in India with perspective to the user behavior. The report also showcases the popularity of Cryptocurrencies and Bitcoin among major cities in India especially with growing penetration in Tier 2 cities like Uttar Pradesh, West Bengal etc.

Apart from currencies and payment modes, the report also peeks into investment searches and behaviors of India. Through the research, it is witnessed that most number of Indians look for mutual funds to invest their money in.

Jesse Cohen, senior analyst at financial markets platform - Investing.com said, “Higher education levels, enhanced availability of information as well as the ease of access to investment tools have all contributed to bolstering the willingness of more and more Indians to invest in the stock market.”

The keynote speaker at the event Mr. Fernando Angulo, Head of Communications - SEMrush stressed on the fact that first-of-its-kind digital fintech industry study for India can help brokers, and aggregators to assess and reframe their online marketing and branding strategies for optimum profits and business growth. The affordability factor and the changing profile of the fintech market have become the market fundamentals in the present fintech market.

The study also sheds light on the NFC payments - according to Google searches, their numbers are growing steadily. It also reveals how “NFC” has been growing steadily over the last several years or Indians being most interested in investing in mutual funds, share market and stock market.

Ms. Sapna Arora, CMO at OLX shared; “As per an OLX study; 52% of Indians have publicly shared their personal details including mobile numbers and addresses online. Sharing personal information in public domain has higher risks to be misused by fraudsters. It is also witnessed that 66% of these respondents have been victims of online financial frauds. Another alarming revelation is that 63% of people admitted that they do not frequently change their online banking passwords. This risk remains unaddressed and awareness is required to reiterate that facts like - upkeep of our digital identities is extremely important.”

The report also showcased that “Open business in India” is among top 10 most popular “open business in...” Google searches globally. Additionally, Indian Rupee is searched more than Bitcoin in India.

Sharing his views on the Report, Mr. Fabrizio Ballarini, TransferWise said, “Despite the hype on bitcoin and cryptocurrencies in the past years the volumes around these currencies are still far for any FIAT currency. There is volume when it comes to crypto news and market updates mostly from a speculative angle. However when it comes to consumer spending, receiving and spending money demand of crypto is still smaller than exotic currencies and nowhere near comparable to most popular currencies (INR being one of them).”

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