Fintech companies are slowly becoming marketplaces for buying, selling and lending financial products. This will improve their profitability and also attract more attention from financial regulators such as Sebi

In 2017, the Reserve Bank of India (RBI) closely watched the fintech industry and came out with guidelines for e-wallet companies and peer-to-peer (P2P) lending platforms. 

In 2018, e-wallet companies will have to follow stringent Know Your Customer (KYC) guidelines, while P2P companies will now be termed as non-banking finance companies (NBFCs). P2P companies, which have seen regulatory tightening, are likely to make their presence felt in the mainstream lending space. “In 2018, P2P will be known as an asset class for retail customers who will be able to lend,” said Vinay Mathews, founder and chief operating officer, Faircent.com. According to Mathews, more companies have applied for P2P licences. Many e-wallet companies have shifted their focus from payments to lending and selling other financial products. 

Click here to read more: http://www.livemint.com/Money/552UGZIEo8XYbLmjIfBM9I/Fintech-will-expand-and-feel-the-regulators-breath.html