Around 63% of students believe that India is all geared to become global hub for fintech, revealed by Indus Valley Partner’s online survey.
The survey had carried out over 6,500 respondents from the student community from prominent engineering and management colleges. Around 20% respondents don’t feel that India is ready and 17% were uncertain about India is ready to grasp the Fintech revolution.
Gurvinder Singh, chief executive officer, Indus Valley Partners said, "India offers the highest expected return on investment on fintech, projected at 29 percent versus a global average of 20 percent, according to a recent PwC report. There will also be the rapid increase in the adoption of emerging technologies in the financial services industry. Interestingly, the student community also feels the same as suggested by our survey. Many financial institutions are already shaking hands with enablers and collaborators from fintech society to come up with innovative solutions."
India has the utmost youth population, with the availability of right skill set and technical knowledge at the right price, as well as government programmes that assist promising organizations to adapt to technical progress. With a millennial-heavy and techno-friendly demographic, India could probably turn into a strong mentor in fintech revolution.
Further, as per the World Economic Forum's annual 2017 Global Gender Gap Report, in spite of the fact that more attention given to the concern of gender parity in recent times, there has been a decline in women’s economic standing in comparison to men.
As indicated by this report, at the present rate of change, it will take 217 years to shut the economic gap between the sexes. Women aren’t anticipated to achieve economic parity with men until 2234, even before the effect of the Fourth Industrial Revolution is completely realized. The revolution will transform labour markets and dislodge jobs and will make inconsistent impacts on women.
Pat Milligan, Global Leader of Mercer’s When Women Thrive platform stated, "We find ourselves at a rare inflection point, navigating broad and potentially game-changing conversations about how women are faring in the workplace and beyond. Everyone — from investors, shareholders, board members and leaders to employees and customers — is aligning on this issue and paying attention like never before."
Mercer’s recent When Women Thrive research, Accelerating for Impact: 2018 Gender Inflection Point, ready to comprehend the drivers of female advancement, what actionable steps organizations can take to follow up on this development, and what sort of model for change is vital. In general, organizations must take a universal look at the prospect of women in the workforce, from the obstacles to crucial accelerators for the system to change the direction.
"Helping women thrive means changing the behavior of all the individuals who make up the organization — in other words, changing the organizational culture. It is likely that automation of jobs will impact roles that women are deployed in, as severely if not more than the roles in which men are deployed. This will further worsen the gender equity agenda. Organisations need to actively add reskilling and redeployment of women to their gender initiatives," said Shanthi Naresh, India Business Leader, Career, and Regional Practice Leader, Workforce Rewards, AMEA.
Furthermore, Mercer’s report observes that how data and analytics can be utilized to accelerate women’s careers, even in the midst of job disruptions brought about by the Fourth Industrial Revolution, as well offering new data and insights around dealing with the health and wealth of employees in the background of gender differences, and how organisations can lead boldly to handle extremely challenging issue of driving deep cultural change to support progress on a topic that can challenge individuals’ core beliefs.